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Diversified Option Selling Portfolio
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Created: by myrrdin Attachments:63

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Diversified Option Selling Portfolio

  #211 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, Vantage, Trade Navigator
Broker/Data: DeCarley, RJO
Favorite Futures: Commodities
 
Posts: 957 since Nov 2014
Thanks: 1,350 given, 1,017 received
Forum Reputation: Legendary


myrrdin View Post
Placed orders to sell the CCU P3000 between approx. 2950 and 3050 for the Juy contract.

S&D data and seasonals favor this trade.

Best regards, Myrrdin

Got filled on the first of three lots of the CCU P3000.

Best regards, Myrrdin

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  #212 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, Vantage, Trade Navigator
Broker/Data: DeCarley, RJO
Favorite Futures: Commodities
 
Posts: 957 since Nov 2014
Thanks: 1,350 given, 1,017 received
Forum Reputation: Legendary


myrrdin View Post
Sold the LHN P78 yesterday.

Cash prices should move upwards until approx. 20th of May, and the contract looks undervalued.

I intend to sell again LHQ calls at a significantly higher price level, if I get the chance.

Best regards, Myrrdin

Sold the LHQ C88 to achieve a strangle in the Hogs (LHN P78 / LHQ C88).

Best regards, Myrrdin

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  #213 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, Vantage, Trade Navigator
Broker/Data: DeCarley, RJO
Favorite Futures: Commodities
 
Posts: 957 since Nov 2014
Thanks: 1,350 given, 1,017 received
Forum Reputation: Legendary


Current positions in the Option Selling Portfolio:

CCU P3000
KCU C170

LHN P78
LHQ C88
LCM P124
LCQ P120

WU C5.5

GCQ P1150
GCQ C1550
SIU P14
SIU C26.5

CLN P38
CLN C52

+NGQ P2.3 (long position)
-NGQ P2.2
-NGQ P2.1

EWN P1700
EWN P1720
EW3Q P1625
EW3Q P1650
EW3Q P1670
EW3Q P1710

Please take notice that most positions are either strangles or are balanced against another position (eg. KC calls vs. CC puts).

Best regards, Myrrdin

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The following 2 users say Thank You to myrrdin for this post:
 
  #214 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, Vantage, Trade Navigator
Broker/Data: DeCarley, RJO
Favorite Futures: Commodities
 
Posts: 957 since Nov 2014
Thanks: 1,350 given, 1,017 received
Forum Reputation: Legendary


myrrdin View Post
Got filled on the first of three lots of the CCU P3000.

Best regards, Myrrdin


Bought back the CC puts as the (very close) stop was reached.

Best regards, Myrrdin

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  #215 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, Vantage, Trade Navigator
Broker/Data: DeCarley, RJO
Favorite Futures: Commodities
 
Posts: 957 since Nov 2014
Thanks: 1,350 given, 1,017 received
Forum Reputation: Legendary

Added to the conservative Natural Gas position:

+NGU P2.35 (long position)
-NGU P2.25
-NGU P2.15

Best regards, Myrrdin

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  #216 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, Vantage, Trade Navigator
Broker/Data: DeCarley, RJO
Favorite Futures: Commodities
 
Posts: 957 since Nov 2014
Thanks: 1,350 given, 1,017 received
Forum Reputation: Legendary

I love to review my winning trades, but for a good longterm performance it is much more important to review my losing trades.

For 2016 I found out that most losing trades are due to not sticking to my own rules:

Getting out earlier than my originally chosen stop: Most of the few options I had decided to get out early turned around soon thereafter, and would have been profitable without hurting the originally chosen stop loss, if I would have stayed in the trade. (I also found out that I am consequently getting out when the originally chosen stop loss is reached.)

"Repairing" losing short option trades via buying / selling futures: I had planned not to use this method, but in a very limited number of cases I did. Without any success.

Selling options of the soybeans complex although I had decided not to do so in spring due to weather market at this time of the year.

My consequencies are simply to try to stick to my rules in 100 % (!) of the trades.

Good trading !

Best regards, Myrrdin

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The following 5 users say Thank You to myrrdin for this post:
 
  #217 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, Vantage, Trade Navigator
Broker/Data: DeCarley, RJO
Favorite Futures: Commodities
 
Posts: 957 since Nov 2014
Thanks: 1,350 given, 1,017 received
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Bought back the CL strangle for a profit of approx. 10 %. Crude price was strong recently, and I was not sure if the calls would hold.

Also sold the Silver strangles at a profit of approx. 20 % to reduce my exposure to the metals market. (I also hold a Gold strangle.)

Best regards, Myrrdin

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  #218 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, Vantage, Trade Navigator
Broker/Data: DeCarley, RJO
Favorite Futures: Commodities
 
Posts: 957 since Nov 2014
Thanks: 1,350 given, 1,017 received
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Bought back the Gold strangle at a profit of approx. 30 - 35 %.

Fundamentals have changed in my opinion, and the fear of traders that interest rates rise, could send the USD up and Gold down.

Best regards, Myrrdin

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  #219 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, Vantage, Trade Navigator
Broker/Data: DeCarley, RJO
Favorite Futures: Commodities
 
Posts: 957 since Nov 2014
Thanks: 1,350 given, 1,017 received
Forum Reputation: Legendary

Bought back the Wheat puts with a minor profit. USDA report was bearish, US$ went up, but wheat prices did not move down in earnest. Wheat is cheap compared to corn, and, thus, I assume that wheat price will not come down until weather has proven safe for the chritical phase for corn in July.

Just another example for buying back Options early, when the fundamentals do not fit to my assumptions anymore.

Added to my Natural Gas Position after the slightly bullish report:

Long NGU P2.25
Short NGU P2.15
Short NGU P2.05

Best regards, Myrrdin

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  #220 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, Vantage, Trade Navigator
Broker/Data: DeCarley, RJO
Favorite Futures: Commodities
 
Posts: 957 since Nov 2014
Thanks: 1,350 given, 1,017 received
Forum Reputation: Legendary


Sold GCV P1150.

The reaction of the Gold price yesterday was impressive after the FED had announced they might get serious about a rate hike.

Additionally, the Gold puts serve as a hedge for the ES puts I accumulated recently.

Intend to hold these puts until a close below the March lows.

Best regards, Myrrdin

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