Showing posts with label other futures. Show all posts
Showing posts with label other futures. Show all posts

Saturday, November 17, 2018

The joy of being short ... at the right time! (Your $200,000 account: up $18K!)

The down move came a week late, but what a move:

I held on to my two short futures contracts and sold 4 2670 puts against it for just the couple of days ending Friday. I have two remaining that expire next Friday the 23rd.

I've been enamored of the idea of selling puts against a short position, sometimes to my detriment. But despite the prospect of a typical Santa Claus Rally,


I think there's enough weirdness around with Brexit


... and of course the ongoing shenanigans in Washington:


That it seems a lot more likely to me that we'll get a more nearly flat market ... which will be perfect for what I'm planning:

(1) Continuing to sell 2 (at least!) puts against my 2 short /ES futures contracts ... occasionally I may sell an extra couple, as I did last week for a couple of days ...

(2) NDX: 4-day Iron Condor, Monday to Friday, short strikes at the .08 delta (i.e. waay out wide) and at least 50 or 60 point wide wings.

(3) A mix of commodity futures, including the Golden Butterfly since I finally remembered the adjustment of selling another one! This worked well (I made $500 in a couple of weeks) the last time I tried this.

Your $200,000 account was up about $18000 last week ... Wahoo!