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.
My gains from trading January options were 1.49 percent of my December portfolio value.
I closed short positions in AGQ, GLD, and FXC with losses. I sold in the money puts to close AGQ and GLD and bought back FXC puts.
Here was my activity on expiration day…
|Put ratio spread profit -||$0.35|
My paper gain for trading December options was 1.50 percent, but the fall of all the shares I am holding has drug my portfolio down. My performance for 2013 as of the close is -3.92 percent.
BVN closed under 11. I was short December puts at 11, so I will own shares on Monday. I sold calls against those shares late today.