This is the last week of June. Today's PCE is a major news event. The 0.1% in May is in line with the market expectation. SPX gapped up over 5500 and reached an ATH of 5523. It started to fade after 10:30 and filled the gap by noon. It was a gap and crap I didn't expect. SPX ended the week flat with the ranges of 5523 to 5430. It's the end of the month and the quarter as well. Both are finished strongly.
IBQ Netliq is up 4% from 157.1K to 163.5K. The realized P/L is $3881. It's basically flat. The cash collected is only $1740. The little cash profit is mainly from the long calls. I followed my plan to trade longs. I didn't trade the BF setup this week. The options' value is down 6.7% from -456.2.3K to -442K, -14.2K. The delta is up from -170 to 25. The leverage is down from 380 to 362. It's still above my ideal level of below 300. The total positions are C6-0 and P9 -0. I traded another risk reversal from 7-3 5230C to 9-19 1:2 5600P and 5475P. It made the delta balanced. There were a total of 50 trades for the week. It's an average of 10 trades per day. The commission cost is $156. I added one 1-1-2 trade for July 31.
The Netliq is down 12.7% for June, from 187.2K to 163.5K, -23.8K. The realized P/L is $83,261. The options' value is +6.7% from -412.3K to -442K, +29.7K. The cash collected is $7293. It's below my plan to make 10K per month. The delta is up from -41 to 25. The leverage is up 19% from 296 to 362. The total positions are C6-2 and P9 -2. There were a total of 238 trades for the month. It's an average of 48 trades per week. The commission cost is $883. The long trades and 1-1-2 system paid off for the month.
The 2 small accounts are in the worst situation for the year with the new highs. It has been about a year in a slump. I managed them poorly through the downturn of last fall, and then the reversal from last November. I caused them a devastating situation. The realized P/L is $-1104 for the week. The cash collected is -243. IBP and TOS got $-243 and $0 each. TOS had no activity because I planned to move the most assets to IBP. I made two attempts to transfer the positions and both failed. The Schwab support reps gave me different guidance after each rejection. They now require two weeks to the expiration date before the transfer. I will make another extension for the options next week.
The realized P/L is -$84636. It's the worst of the year. The cash collected is -$1983. IBP and TOS had $-677 and $-1306 each. It's the first month with negative cash flower. I had to spend money to save some B/P.
Lessons and Plan:
1. It's important to keep the size small. The small size will reduce the red and yellow warnings.
2. Have patience in directional trades. I have different emotions when in such trades.
3. Stay calm and disciplined. Make myself a little better every day.
4. Learn this hard lesson of 2024. I will spend money to reduce my holdings and risk.
5. Continue the 1-1-2 trades. I will explore using ES instead of XSP if the margin requirement is more beneficial.
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