3/18
This is triple witching expirationa Friday. Today was FOMC announcement day. The FED kept rates unchanged from 0- 25bps and said that it would commit to buying Treasuries up to $300Billion. The market reacted positively to the announcement.
Most markets ended up over 1% and over 3% for the RUT. Gold rallied close to $50 to close at 938.
Update on my remaining RUT positions:
BOT +1 VERTICAL RUT 100 APR 09 350/340 PUT @1.20 ISE, RUT MARK 408.02
BOT +1 VERTICAL RUT 100 APR 09 370/360 PUT @1.95 ISE, RUT MARK 408.07,
BOT +2 VERTICAL RUT 100 APR 09 370/360 PUT @1.95 ISE, RUT MARK 408.07,
So that closes all if the positions I opened about 19 days ago. I gained over 30% on each of the Iron Condor positions, which I legged out of.
3/13
The RUT ended the day up mostly flat (up 2.97 or 0.76%) and didn't hit the 408 level, so the orders I placed to exit the 340/340 and 360/370 verticals were not triggered. I decided to adjust the calendars since I didn't want to have the calendars on with about 5 days left to expiration. This coming Friday is expiration.
410 call Calendar (CLOSED +33%/ +2.13)
The RUT rallied a bit in the last half hour of trading and I decided to exit the calendars for 10.94, which was about .10 above the market price. My price was eventually hit due to the rally. Over all I'm satisfied with the calendar trade, despite the nasty tumble in the markets.
I had two calendars on.
On one calendar (One I messed up on the order and I tried to adjust it). Accidently bought back short march leg 410C for 4.4. On 3/11 sold march 410C for 2.00 to fix the broken calendar to take advantage of some time decay. In this case if I didn't adjust the trade I would've done even better.
The lesson is that I shouldn't try to leg off calendar spreads in the future. I can leg off Iron Condors if I can buy back one of the legs for $0.30 or less, otherwise I should keep it on unless I reach my profit objectives or adjust them if they go againist me.
3/12
I had a nice explanation of the markets today, but somehow google didn't save my entry and I"m not in the mood to post the long explanation again. Here is the short and sweet version.
I've decided to take off all my open positions when the 408 level is reached (50% retracement). We can hit that level which is the Friday 13th R1 level. I was down quite a bit when the market had the huge tumble to the 340 level. Bear market rallied are much stronger and more powerful than bull market rallies. Lets see if we hit the 408 level tmw, which will be about a 4% move. Most unlikely, but who knows...
3/10
I bought back the naked GE put for a small gain after the stock tumbled down to the 5 handle.
3/2
The markets sold off hard today. The RUT hit below the weekly pivot of 368.36, closing @ 367.8.
I closed the 430/440 Call verticals for $1.85. Net with the gain in the call and loss in the put vertical I'm down $.70.
I entered the RUT verticals because it was trading new the yearly S1 (391.65), however the technical indicators I follow weren't in sync. My initial goal was to wait for the RUT to come down some more, but I jumped the gun on this trade. Let us see how I manage the trade on the next few weeks to come. I did see the next month (April) contracts instead of the March contracts with fewer days to expiration.
SOLD -1 GE 100 MAR 09 9 PUT @.83 NYSE, GE MARK 9.11
SOLD -1 VERTICAL RUT 100 APR 09 370/360 PUT @3.25 ISE, RUT MARK 390.43
SOLD -2 VERTICAL RUT 100 APR 09 370/360 PUT @3.25 ISE, RUT MARK 390.44
SOLD -1 VERTICAL RUT 100 APR 09 370/360 PUT @3.25 ISE, RUT MARK 390.43,
SOLD -1 VERTICAL RUT 100 APR 09 430/440 CALL @2.55 ISE, RUT MARK 390.22
SOLD -2 VERTICAL RUT 100 APR 09 430/440 CALL @2.58 ISE, RUT MARK 390.76,
SOLD -1 VERTICAL MCD 100 APR 09 52.5/50 PUT @.94 ISE, MCD MARK 52.29,
BOT +1 CALENDAR RUT 100 APR 09/MAR 09 410 CALL @7.90 ISE, RUT MARK 390.86
I sold a bunch of positions. Several verticals, which converted to Iron Condors for credit of 5.8 each
Bought the RUT 410C Calendar for 7.9
Sold MCD Vertical put 52.5/50 for .94 credit
sold nakes GE PUT.
This a huge position.
I've set the stop losses on the MCD, RUT position.
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