August 22, 2017

Bears Take Charge – My Options Portfolio Up 49.4% YTD

What a day! After building a short position in SPY based on my short-term analysis the bears finally took charge today and pushed the market lower 2.75%. Over the past week or so I have been writing about how the probability of a short-term decline was imminent. It took patience and discipline to stick by my analysis while keeping my focus on the most important factor of any trade, risk management. Once again, patience pays.

The trade tacked on another 5.4% or $2,095. As a result, My Options Portfolio is now up 49.4% since its inception on May 8, 2010. You can view all of my trades here and verify my all of my trades as I post all of my trades directly from my TOS account at or near the time of the trade (typically in the afternoon after the trading day is over). Moreover, I post all of my trades again at the end of each month to make it a bit easier to follow for my loyal readers. Transparency is king!!!

Here are the trades placed today, plus I have posted the entry trades again.

Click to View Trades

The S&P is once again in a neutral state, so I will most likely be sitting on my hands over the next few trading sessions. I have yet to look at my charts to see if any nice setups are taking shape after today’s price action. I would imagine that most of the ETFs that I follow and typically trade are all in a neutral state, but I could be mistaken. OF course, I will try to let you know what I am seeing when the time comes.

I wanted to thank all of my contributors in the comments section. The ultimate goal of this blog is to create a community of traders, particularly options traders, to share trading ideas and thoughts as they arise throughout the day, week, month. I encourage everyone to participate.