Dear trading community,
Here is a look at my sample portfolio for Friday, November 1st, 2019.
IWM December 30 Delta Short Strangle
On Friday, October 25th, 2019, I sold this position for a credit of $3.75. Only half of my normal size since IV is so low.
My profit target for this position is $1.60, so I'm going to close it, when it trades for $2.15 or at 21 DTE.
At the moment this position is 1 cent ($1 per one lot).
Rolling IWM November Short Call out and up to December and into a Short Straddle
On Friday, August 23rd, 2019, I sold this call for a credit of $4.53.
On Thursday, September 26th, 2019, I rolled it up to the 147 strike and out to November for a credit of 69 cents.
On Friday, October 25th, 2019, I rolled it up to the 148 strike and out to December expiration and also added a short 148 put to reduce my short deltas.
My overall credit for this position is now $7.25.
No specific profit target, since this is all in defense mode.
At the moment this position is down $5.03 ($503 per one lot).
TLT December 30 Delta Strangle
On Friday, October 25th, 2019, I sold this position for a credit of $3.02.
My profit target for this position is $1.28, so I'm going to close it, when it trades for $1.74 or at 21 DTE.
At the moment this position is up 74 cents ($74 per one lot).
QQQ December Synthetic Covered Put
My synthetic basis on the covered put is $184.49, I have collected enough in credit in this position to have the chance to be profitable.
We'll see how and if this will work out.
GLD December 30 Delta Strangle
On Thuesday, October 22nd, 2019, I sold this position for a credit of $2.46.
My profit target for this position is $1.23, so I'm going to close it, when it trades for $1.23 or at 21 DTE.
At the moment this position is up 40 cents ($40 per one lot).
FXB December 30 Delta Strangle
On Wednesday, October 16th 2019, I sold this position for a credit of $2.34.
My profit target for this position is $1.14, so I'm going to close it, when it trades for $1.20 or at 21 DTE.
At the moment this position is up 67 cents ($67 per one lot).
XLE December 30 Delta Strangle
On Friday, October 25th, 2019, I sold this position for a credit of $1.71 only half my normal size, since IV is so low.
My profit target for this position is 71 cents, so I'm going to close it, when it trades for $1 or at 21 DTE.
At the moment this position is up 26 cents ($26 per one lot).
SPY Classic Put Diagonal
On Thursday, October 24th, 2019, I bought this position for a debit of $2.35, but this is not my max loss, since there comes an additional $2 in margin requirement, so my max loss on this position is $4.35.
My profit target for this position is the price of the imbedded put spread at trade inception (= 63 cents).
So, I'm going to close this position, when I can sell it for 2.98 or when the front-month short put expires.
At the moment this position is down 22 cents ($22 per one lot).
If we don’t get a down move next week, I gotta put on some long delta positions to balance my deltas.
Books Update
With the completion of my latest book, I have now a trilogy.
The first book is still available for a huge discount on Google Play, so buy as long as it is still cheap.
You can also buy it for $19.99 on iTunes, Amazon or Barnes and Nobel.
Thanks to all my readers for buying it.
If you like it, you would do me a great favor by writing a short review on amazon.
My second book is available for $5.99 on Amazon, Google and on Apple.
Thanks to all my readers for buying it.
If you like it, you would do me a great favor by writing a short review on amazon.
My third book is available on Amazon, Google and iTunes.
Have a great weekend,
Stephan Haller
Legal disclaimer: These are not trade recommendations. Options involve risk and are not suitable for all investors. The trades shown above are for educational purpose only.