Friday, June 9, 2017

Weekly Trade Summary: May 28 - June 03

I was taken out of commission for a few days at the end of last week, which made it impossible to get my trade summary published. The SPX pushed up above the 2410 level on Thursday, May 25th and stayed there on Friday, May 26th.  This move pushed two of my butterfly positions into adjustment mode. I thought I'd wait and see if we retraced the following week (May 28 to June 3), but wouldn't you know that the SPX pushed strongly higher on June 1.  Rather than adjust and fight the up trend, I closed these two trades and took the loss. The two closing trades are listed below:

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The original two trades are show below:
  • Original Trade Entry: May 5 - BWB on the July 7 expiration (post)
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  • Original Trade Entry: May 12 - BWB on the July 14 expiration (post)
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I currently have 4 open trades, with expirations in June (2) and July (2):

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Total defined risk for these trades is at 26.9% of the account net liquidation value.

26 trades have been closed this year...14 wins and 12 losses. Return on the account for the year is at 2.4%...hardly worth the effort!  Total win rate is at 54%.  The win rate on the core trades is at 64% and at the very low end of the expected range. Of the 4 open trades, 2 currently have a positive P&L.

Broken wing butterflies are really struggling lately and not performing as well as last year. I will be digging into the iron condor backtest results a bit more over the next few weeks to see how well they have performed in 2017.

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