SPX QQQ IWM XLV MDY

    Posted by fundamentalvalues on 12th of Aug 2022 at 03:52 pm

    SPX QQQ IWM XLV MDY I've decided to stay long in our other large IRA with current inventory.

    Yesterday I reduced 13% of our funds in stocks that we had bought from 3,600s to 4,200s in our other IRA. Took a bit of digging by date to see what the market close prices were though was able to figure it out. 

    I took a net short posture (not aggressive yet, waiting for a trigger) near the close here in my trading account via my LABD/LABU pair trade here. 

    We have vacation coming up for a week August 28th and I will be all cash in the trading account with no phone for a week and looking forward to the break! 

    TTITD?

    Posted by greggone on 12th of Aug 2022 at 04:46 pm

    TTITD?

    I still have some longs,

    Posted by timebandit on 12th of Aug 2022 at 04:07 pm

    I still have some longs, not many, so took a hedge just before the close.

    My current accounts structure is

    Posted by DigiNomad on 12th of Aug 2022 at 04:23 pm

    My current accounts structure is about like holding a leveraged 2X SPY bear ETF. Got crushed today...on paper. I'm not that worried because my average breakeven is around 4380. Time to close my eyes and wait....same thing I had to do when the market was going parabolic to the downside a few months ago. Back then I  was getting BEAT UP adding long delta (effectively long SPX), but my breakevens were in the 3450 area with less than a month to expiration.

    Anyway, even a pause at this point will spike the crap out of my accounts (although a pullback would be welcome as well).
     
    If anyone is following a similar strategy, the KEY is to start small!! Cannot stress how important size management is.  I target 1% gains per month, every month. To get that selling premium on the indexes, I'm typically about 90% cash (more, because selling premium increases cash, but 90% capital available during normal times). I sell strikes at a little over 1 STD DEV of the current expected move.  Because I maintain so much capital, when I get challenged, I can either roll up in the same month/expiration and double....or roll out and up (for more credit). I prefer the up and double because I don't like to give up my 1% for the month....but the doubles gets nerve wracking at times....especially when you're on a 2nd or 3rd iteration. 

    Oh...and I try to take profits at 50% of total profit possible. I don't always do it, but that's part of my standard trading plan. 

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