My profit from trading May options was -0.49 percent of my ending April portfolio value. The problem was not from option trading, but from losing with 5 of 6 day trades during the period. Absent the losses from day trading, May would have been a good month.
Honestly, I am not such a bad day trader, but I was hedging option positions near the end of the month when I should have remained un-hedged.
I remain bored with posting trades, so am posting only monthly summaries at this time.
My gains from trading April options, shares, and collecting dividends were 0.81 percent of March’s ending portfolio value. The stock market marched up and down most of the period and I made little effort to participate.
My gains from trading March options, shares, futures, and collecting dividends was 1.29 percent of February’s ending portfolio value.
March was quiet compared to the excitement of February. My exposure to the market is about as low as it has been in years.
I have gotten tired of updating trades on a daily basis. I think I will continue to update the site on a monthly basis, but am planning to stop daily updates as of this past Friday.
My gains from trading February options were 3.59 percent of my January portfolio value. Profits were higher because I traded much more aggressively than usual when the market was weak with short positions, bearish spreads, and naked calls. I reduced bearish trades as the market rallied and maintained a good portion of the profits made.
My big mistake over the past month was exiting positions in utility companies too aggressively. I had been holding losing positions for months and saw the rally as a chance to exit. The rally continued high enough that I regretted not staying along for the ride longer. However, I have not made big commitments to utilities for March, at least not yet.
I bought puts at 104 and sold three times as many puts at 101 in IWM. My thought is that I can hedge if IWM falls through 101. The ideal development would be to fall to 101, making the puts I own valuable, but not beginning to erode profits by penetrating 101.
I took losses on several share positions.