Wednesday, April 10, 2013

My trades so far...

Dear fellow option traders,

Here was the trade that I had established back in 15 Feb 2013 :


On 15/2/13, I sold 5 contracts of DIA Iron Condor. Have adjusted once. Bought back the Mar13 143/145 Call spread and extend the upper price range by selling 5 nos. of Mar13 144/146 Call spread.

On 11/3/13, I bought back the Mar13 137/135 Put spread at $0.05.




On 27/3/13, the DOW dropped 90 points when market opened.I bought back the Mar13 144/146 Call credit spread at $0.67 (on previous day the price closed at $1.23 because the DOW rose 110 points)

This has taught me an important lesson. I've grabbed the opportunity to close my trade with a smaller loss when it was presented to me.

Total position loss = $150 + $100 commissions.


As for the updates for the positions established on 15/3/13 :


On 15/3/13, I've sold 5 contracts of SPY Iron Condor. Capital outlay = $625. Possible credit = $375.


I've placed limit orders to buy back each leg of the credit spread. (as above)



As for the 5 contracts of IWM Double Calendar bought on 15/3/13. capital outlay = $695. Possible credit = $480.


On 4/4/13, I added another IWM Double Calendar on top of the existing one because the downside breakeven was breached :-

ie. Sold IWM Apr13 93 Put & Bought 5 IWM May13 93 Put (this position was breached).


Yours Truly,

Tony Chai

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