SPX closed in red for the last week of September. It was the fourth consecutive losing week. SPX is at the weekly VAL of 4238-4541, a 300-point range. It matched the downward seasonality of September. The first part of October could be volatile as well. The averted government shutdown may not boost much of the market sentiment.
IBQ Netliq is flat from 296K to 297K for the week. I aggressively reduced the SP strikes to hedge the impact of the continued volatility. I even made a 1:2 risk reversal from one SP to 2 SC. It luckily worked out. The options' value stayed flat at -216K. The leverage is at 109 from 110. The realized P/L is $59,129. It's mainly from the exited SCs. The unrealized loss in SPs is not included. It will be reduced when the market turns up. The delta is down 53%, from 499 to 266. The collected cash is $2271. There may be some dividends from stocks. The total positions are C7-1 and P8-1. I made 84 trades for the week. I had to buy more hedges for B/P. The commission cost is $313. It was a flat week overall.
The two small accounts have been in the dump for 4 months now. It was a hard lesson I should have avoided. The realized P/L is -1407. The cash collected is -$816. I had to pay to roll the DITM SPs. I had a negative cash flow for the first time. Like some said, anything can happen in trading. TOS has 1 4380 SP and 1 4330 SC, inverted. IBP has 4450, 4400 DITM SP, and 4280 SC, inverted.
Lessons and Plan:
1. Keep reminding myself to be calm, patient, and disciplined;
2. Be flexible in my market bias;
3. Remember to set the levels at the beginning of the day;
4. Learn to make some directional trades when the trend is identified.
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