The volatile August is finally behind us. All major indices closed lower for the month. It was a volatile but trendless month. SPX traded 200-point range. It ended back to the breakdown point above 4500. We may see an up-range mode for the first half of September seasonally. The FOMC meeting is in mid-September. I will follow the price actions and be flexible in my bias.
IBQ Netliq ended at 318.6K vs. 320.7K from July. It's basically unchanged. The options' value is up 1.6% from -192.6K to -195.6K. It's flat as well. The leverage is the same at 96. However, the realized P/L is -$41,996. The large swings forced me to roll the DITM positions on both sides. The collected cash is $12,769. It's only a 4% return of the netliq. It will be $14,659 if including the +$1800 difference. The total positions are 18. It's one less than July. I moved all RUTs to SPX. The total trades were 379, 29 more than July's. It's an average of 16.5 per workday. I am still over-trading. The commission cost was $1462. It's 11.5% of the collected cash.
The two small accounts have been in the slump for 3 months now. The cost of time and opportunities drag on. The realized recovery P/L is $40,522. It's better than July's -$28,684. IBP and TOS collected $$6420 and $5006 each. It's about 6.4% and 5% return based on their 100K options B/P.
Lessons and Plan for September:
1. I still break my rules from time to time. I tend to get emotional during major events.
2. I will continue to practice self-awareness and fast, slow thinking.
3. Knowing the time of the day helps me to be patient.
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