Closed 50 CAT deep ITM puts long at morning plunge. CAT short amount down to 20% of its peak.
Added 4 DECK deep ITM puts long while trying to convert small part of DECK share short to deep ITM puts long.
Wanted to sell VXX but no fund available because of all DECK share shorts assigned from puts long last Friday because I couldn't roll them to this week since I didn't want to pay 20+ cents to roll. Rolling DECK puts is a stress every week because it costs too much. Didn't go crazy closing shorts or converting all DECK shorts to puts long, to sell VXX today since I am betting it will go down some more, counting on VXX strength.
Account a little bit plus. Frustrating day with complete gap fill same day after gap down. Market is trying hard to keep the trend. SPY 60 day MA is about to roll over in a very long time. I will be comfortable selling VXX shares at 31.50 or higher. VXX is strong today and I hope that's not because of retails buying, rather big guying hedging.
Spiked at the end of September 2013 into the first week of October when it peaked. Looks like a repeat performance. I expect VXX to keep climbing for another week or two before the markets stage another rally. For the next 2 weeks, VXX is the investment to own.
20 VXX calls sold expired worthless.
10 VXX puts sold expired worthless.
Sold 10 DECK next week ITM calls.
Bought 30 FB next week deep ITM puts.
DECK, FB still strong.
As very often the case, erased big part of loss the next day. Couldn't roll a couple of items, so hectic Monday again.
Account some minus, fell back below 10th milestone. Doesn't feel very good but it's OK, I've been there and will get there again sooner or later. Hoping that VXX is not done yet. VXX short/Market short ratio fell below 10%.
Finally VXX closed above $30. 30% up from low is still $35, 40% at $37, 50% at $40. If VIX futures rise to 18.5, VXX will be $35.30, 19 is $36.30, 20 is $38.20 and 21 is $40.
Started selling VXX calls, might regret not shorting shares if VXX plunge tomorrow but that's how I start.
Sold 10 VXX weekly ATM calls.
Had to go to customer's office for meeting in the afternoon, So, asked my wife to sell either this week's near-the-money VXX calls or next week's OTM calls towards market close, but she misunderstood and sold them both.
Sold 10 VXX weekly near-the-money calls.
Sold 10 VXX next week slightly OTM calls.
Hoping all 30 of them gets assigned.
First target $35, then $40. Will short as VXX go up if it does.
Closed 1K RL short shares assigned from Sep puts long, unfortunately after paying dividend yes'day.
Closed 20 FAS deep ITM puts long.
Closed 11 RL deep ITM puts long.
Close 50 CAT deep ITM puts long.
1K DPZ short shares were closed by broker in one of the account due to being in Reg T call from Monday after getting them assigned from Sep puts long without fund. So, got them back with deep ITM puts long, and then some more.
Bought 15 DPZ Oct deep ITM puts long.
Sold 10 DPZ Oct ATM calls.
Been a while since last S&P big daily drop. Hoping for monthly red candle clearly piercing down 5MA at the end of Sep, which did not happen for more than 2 years, which should take some bullishness away.
Account good plus, ATH and finally passed 10th milestone. Gain not much due to loss from VXX short and some shorts like DECK, DPZ didn't drop at all. Market short down 30% from its peak, CAT is not the biggest short anymore in the account. VXX short/Market short ratio climbed to 11.3%.
It may be too early to celebrate as I have to defend 10th milestone, but it's the milestone that I couldn't even imagine a couple of years back, and I've been longing very much for this since I was getting confident in trading. Today, my first wish came true. Really glad and grateful.
REVI gets ready to put a move on the cannabis industry by announcing planned entry into the media sector. Could this send the stock past $1.50?
Again, VXX couldn't make it to $30. Hope it's not repeating Apr-like breakdown.
Bought 10 TWTR weekly deep ITM puts.
Bought 10 FB weekly deep ITM puts.
Almost bought AGN weekly deep ITM puts on pop, but cancelled at the last minute as I have enough market shorts and 10 more AGN puts are not going to diversify my account, and nervous as I never traded bio/pharma stocks before.
I should have noticed that S&P 500 bounced off from double bottom, and close some shorts like RL, FAS, GS, CAT, etc. Chart will get ugly for bears if it goes up tomorrow. Hoping this is not the end of the dip.
Account some plus, ATH, getting very close to 10th milestone, but my account looks tired... Luckily my short items didn't go up much on S&P 15 point up day except CAT. Overall market short value 20% down from its peak, CAT short 60% down from its peak, but non-CAT market short is at ATH. VXX short/Market short ratio is 8%.
Closed 40 CAT deep ITM puts long.
Bought 10 FB deep ITM puts. Could have been better if I waited until closing.
CORN/JJG breaking down. Waiting some more drop for put sale.
Lowered closing order prices and did not close other than CAT. Maybe tomorrow I will close some.
Account little changed, Market short gain offset by VXX short loss. Will start selling VXX calls when it approaches 30. SPY tanking AH but no news. Hope it doesn't reverse overnight. Feel different this time. Been reading articles on CBOE SKEW, highest in many years. I need slow decline to avoid VXX shock.
Borrowed a bunch of travel books and videos from library to plan for vacation this year.
Sold 10 DECK March 2015 near-the-money calls. DECK still strong despite market weakness. Should come down if market pressure continues.
CORN/JJG still weak. Put in put sale order for JJG upon dip but didn't come down to my order price.
Did not close any short today, expecting some more weakness. VXX strong after hours compared to SPY.
Account big plus, ATH, way past 9th milestone. Hoping for one more down day to close some of shorts added high above. Just another day like today.
Correction for 9/19/14: Closed CAT/CLR deep ITM puts long not calls long. I didn't buy calls for a very very long time. Always call sales or put buying, sometimes put sales against share short or puts long, and put sales to go CORN/JJG long.
Rolled 30 VXX deep ITM puts sold to 1, 2, 3 weeks out.
Closed 60 CAT deep ITM calls long. CAT short amount reduced to half of its peak with profit taking so far.
Closed 26 CLR deep ITM calls long. Finally, closed the last remaining oil related short started at the end of March. Didn't make a whole lot of profit but good enough gain. Glad to close this one on monthly expiration day so I didn't have to roll.
Bought 30 DECK next week deep ITM puts for rolling purpose but no gain, so carrying to next week.
Bought 10 HD next week deep ITM puts. Back into HD short. Was coming up despite the news that its data breach is larger than TGT's.
Missed chance to add to FAS short.
Sold 10 CORN Oct near-the-money puts. Unfortunately, CORN losing ground as I'm starting long.
Was frustrated with market action in the morning, pop on Scot's no vote while nothing has changed. Market behavior these days:
- Nothing happens, no good news, no bad news: market goes up.
- Some bad news: market dips and then recovers mostly same day or next day.
- Very bad news: market dips for a couple of percentage.
- Some good news: market gaps up
Can't blame bulls as market has trained them to buy any kind of dip for 3 years now. I'm the fool going against the trend.
Had to go to Manhattan in the afternoon so I asked my wife to roll all the puts. She went crazy rolling 14 items 690 weekly/monthly put contracts and she did well. Now she should have some idea what I go through every Friday afternoon.
Account big plus, missed 9th milestone by 87 bucks. I was hoping Alibaba close under its opening price to take other internet stocks down but it managed close above opening price. Will see on Monday as it wasn't that strong today after opening. Hoping for 10th milestone in Sep before next earnings start.
Closed 30 CAT deep ITM puts long.
Closed 26 CLR deep ITM puts long.
Bought 10 KSS next week deep ITM puts.
Sold 5 GS Oct ITM calls.
Bought 10 GS next week deep ITM puts.
Bought 20 FAS next week deep ITM puts.
Sold 10 FB Oct near-the-money calls.
Sold 10 UAL Oct-1st ATM calls.
Bought 30 UAL next week deep ITM puts for roll, to replace expiring puts.
Seems shorted too much today. Market short increased a bit.
Sold 10 CORN Oct ATM puts. Starting with put sale for now. Premium is too low.
Luckily, account just a little bit minus. But, looks like tomorrow will be a bad day given AH SPY action. Will be a hectic day to roll all the puts.
Since 2000 and more so in 2008 people had been taught to hedge, put and short the markets in order to protect themselves or even have a pure short play. These short and triple ETF's were abounding and many were not realizing that these vehicles are to be utilized for the very short term.
Sold 5 FDX Jan 2016 near-the-money calls on earnings pop.
Sold 5 FAS Oct 1st near-the-money calls. Being 3x, 5 calls took 50K for maintenance requirement, my goodness. Will just use as safe until the fund is needed.
Bought 10 FAS Sep deep ITM puts.
Bought 10 KSS Oct deep ITM puts.
Wanted to sell CORN Oct puts but it didn't come down to my ask price. Will try again tomorrow.
Glad CAT is weak today despite market upbeat which help account stay in good shape. Hoping CAT short becomes largest gain short excluding VXX, exceeding USO and UNG. Just a couple of more bucks down to go.
As usual, dip after meeting and soar after dip. Today I thought the dip was real as it followed initial spike which I haven't seen for a long time. But then it turned out just as usual.
Account good plus and ATH. Market short increased a bit. Just two more days before Sep expiration. Hope they pin it down. Almost touched S&P ATH today, and nice chart setup if it dips now. Glad to get FED meeting out of the way without much damage.
Today, finally changed my wife's phone to smart phone, first in the family, older model at $1 with 2 year contract. My son's to follow after college application, and then maybe mine later.
That is a wonderful way to look at it. I am up about 315% since 2011 so I am searching for 13th milestone. What time period for your milestones?
I doubt it. My account may go back down to 5th milestone again, but not all gone. If market continues climbing and VXX is cut in half, I will earn 3 1/2 milestone from VXX short compensating huge loss from market short. If market crashes, market short currently more than 10 times VXX short will be more than enough to cover loss from VXX short.
10th milestone is 250% profit of my capital put in.
As my account grow, I'm finding easier to defend from market going against my position. It will give me a chance to win as long as I can hold onto the short position most of the time. So, as long as I distribute risk and start position with low leverage, I will have good chance to win.
This week wil determine whether my account fly to 10th milestone or a couple of month of pain. It doesn't look very promising today so far. Well, wish me luck...