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Zsike's Trading Journal
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Zsike's Trading Journal

  #1 (permalink)
Trading Apprentice
Pecsely, Hungary
 
Futures Experience: Beginner
Platform: NT7
Broker/Data: Interactive Brokers
Favorite Futures: stocks
 
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Posts: 26 since Oct 2011
Thanks: 30 given, 26 received

Zsike's Trading Journal

Greetings futures.io (formerly BMT) members. This is my trading journal. I have a nice base of knowledge for trading and investing, so my continued growth in trading will come from new experiences. I just opened a new account at Interactive Brokers last week and I am ready to begin. After reading the "Options education" thread, I have decided to play it safe in a very uncertain world and downloaded the options strategy book from post #5 and the tracking speadsheet from post#14. I am interested in income and trading so I put together an option collar strategy on XLU, the SPDR utilities ETF. XLU has a quarterly dividend with the ex-div date each quarterly witching day (easy to remember) and a monthly options series.

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I expect to receive two quarterly dividends with this strategy in the first phase. About $ 0.70 per share.



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I did an option collar because of the downside risk represented on the daily chart.


My Trades:

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I bought 600 shares of XLU and bought Six 15JUN12 37 puts. For these puts, I am paying $1.00 in premium over intrinsic for five and a half months of protection. I immediately sold Six 17FEB12 36 calls to start and offset the put premiums.

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As part of the strategy as explained in the Options thread, I am ready to buy 600 more XLU to keep the strategy whole. I have experienced in the past how portfolio managers and market makers like to capture dividends from the naive investors who think they can outsmart them.

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I am starting slow. I need to get a smart phone so I can download the IB app. I am a part time investor, but a full time watcher. I will develop a couple more trading opportunties for my portfolio.


Last edited by zsike; January 9th, 2012 at 01:56 PM.
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  #2 (permalink)
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  #3 (permalink)
Trading Apprentice
Pecsely, Hungary
 
Futures Experience: Beginner
Platform: NT7
Broker/Data: Interactive Brokers
Favorite Futures: stocks
 
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Posts: 26 since Oct 2011
Thanks: 30 given, 26 received

New Day, Next Trade


The market is rallying today. My XLU is also. I am watching the 36 line on the chart as to protect my strategy position. I will just buy another 600 shares and sell the 37 calls or maybe 36 again..

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I just read post#15 on the "options education" thread and thought I would give this a try. I decided to alter the short options to InTheMoney also.

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I understand options and all, but I decided to play it real safe and go for the option premiums. I used the spreadsheet from post #15, but it makes no sense to me right now. I will have to adjust it after I flip this Friday's options to the following Friday.

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I will see how this goes.

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  #4 (permalink)
Trading Apprentice
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Platform: NT7
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Posts: 26 since Oct 2011
Thanks: 30 given, 26 received

XLU

XLU turned back down. I don't know what will happen tomorrow, but I will take it day by day.

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The option strat is still above reproach.

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  #5 (permalink)
Trading Apprentice
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Posts: 26 since Oct 2011
Thanks: 30 given, 26 received

It seemed like a slow day: XLU


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SPY closed up a little today about 129.25. The adjustment points for me on the STUUD are about 126 to 127 on the downside and 131 to 132 on the upside.

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  #6 (permalink)
Trading Apprentice
Pecsely, Hungary
 
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Posts: 26 since Oct 2011
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Next Strategy Trade

I did a GDX STUUD strategy trade today. $1400 Intrinsic value trade. I bought the Feb17 options and sold the Jan20 options. Each short option was 2 points OTM. And with the volatility beefing up the premiums, I was able to achieve the full intrinsic value and 2 points OTM. And I figured out how to score the trade and use the spreadsheet. I split the diagonal spread in half and recorded the legs. This trade is suppose to achieve 5% a month.

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Last edited by zsike; January 12th, 2012 at 06:22 PM.
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  #7 (permalink)
Trading Apprentice
Pecsely, Hungary
 
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Platform: NT7
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Posts: 26 since Oct 2011
Thanks: 30 given, 26 received

Updated STUUD SPY

Yesterday when I did the GDX STUUD, I noticed I did the SPY STUUD wrong. I had the short options ITM instead of OTM. I am new to IB and these option strategies but ................ So I reversed myself yesterday, wow, just in time because the market is much lower today. I still made a net profit.

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  #8 (permalink)
Trading Apprentice
Pecsely, Hungary
 
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Platform: NT7
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Posts: 26 since Oct 2011
Thanks: 30 given, 26 received

End of Day

And week. Nice reversal today after a gap down. Trend hasn't changed; we'll see what happens next week.

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  #9 (permalink)
Trading Apprentice
Pecsely, Hungary
 
Futures Experience: Beginner
Platform: NT7
Broker/Data: Interactive Brokers
Favorite Futures: stocks
 
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Posts: 26 since Oct 2011
Thanks: 30 given, 26 received

risk profiles

posting my risk profiles for my three positions

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  #10 (permalink)
Trading Apprentice
Pecsely, Hungary
 
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Platform: NT7
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Posts: 26 since Oct 2011
Thanks: 30 given, 26 received

results


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The XLU chart. In process.

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I closed out the two STUUD trades. I was going to have to adjust the GDX one if GDX went lower. I could see on the options list that would have to buy back my short options too rich and sell the next series too lean and create a much larger loss. As the spreadsheet shows, I had a limited loss.

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Being GDX was a loss, I could see SPY was a gain. Net net I wanted a plus+++++.

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I included the spreadsheets for any readers usage.

Attached Files
Register to download File Type: xlsx Zsike's STUUD Strategy GDX.xlsx (11.0 KB, 8 views)
Register to download File Type: xlsx Zsike's STUUD Strategy SPY.xlsx (11.4 KB, 10 views)
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