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Tom's Trading Update for September 5, 2014
The EURUSD crashed hard yesterday, down 200 pips. I had to go into defensive mode on the weirdor. Today, EURUSD rallied a little so the price chart is stabilizing for now.
SPX continues to go sideways and theta is kicking in. All three of the SPX trades look fine.
Enjoy the video!
REPLAY: The Round Table with Michael Benklifa on Thursday Sep 4th
Author Michael Benklifa joined us on Thursday's Round Table to discuss how to “Think Like an Option Trader.” This is the title of Michael's most recent book.
Enjoy the replay!
Tom's Trading Update for September 3, 2014
EURUSD rallied a little but volatility came out so the position is nearly breakeven now. SPX is still hovering around 2000 so our SPX flies are all doing well. Nothing to do today.
Enjoy the video!
Tom's Trading Update for September 2, 2014
EURUSD is fairly flat this week but volatility has risen so we are under water. There is still a lot of time left in this Weirdor trade and our primary put delta is still under -10.
My SPX trades are still all doing fine. Nothing to do but wait for all three of them.
Enjoy the video!
Tom's Trading Update for August 29, 2014
I wrapped up the week net positive profit. The 6E futures options (EURUSD) are down as the EURUSD fell and it is a bullish position. Fortunately it is over 70-days to expiration so it is nice and wide. The EURUSD nearly hit a 1-year low today so We'll see where it goes next week.
My SPX trades are all doing fine. Nothing to do but wait for all three of them.
Enjoy the video!
The Round Table with Amy Meissner Replay
Amy Meissner, “the Queen of Iron Condors”, presented her Nested Iron Condor strategy tonight. Amy's results clearly show that iron condor traders have struggled in the last year or two but the returns are still good.
Enjoy the replay!
Tom's Trading Update for August 26, 2014
I added three new trades today:
- New 6E futures options trade (Weirdor type of trade)
- New SPX options trade, DEC expiration butterfly
- New SPX options trade, SEP 19 expiration broken wing butterfly
I reviewed my essentially closed Sep 13th trade. It has zero margin and has a guaranteed profit of $1222.
Enjoy the video!
The Round Table with Amy Meissner
Amy Meissner will join us on Thursday's Round Table to discuss her nested iron condor strategy. Amy was written up in Technical Analysis of Stocks & Commodities magazine as the “Queen of the Iron Condor.”
Tom's Trading Update for August 22, 2014
SPX closed higher today. I sold the 2005 call for $2.10 more than I bought the 2000 call today, so I now have a bull call spread put on for a credit!
Enjoy the video!
The Round Table: SPX Broken Wing Butterfly and VXX/UVXY Trades
The Round Table meeting had two parts. Tom showed the SPX Broken Wing Butterfly trade he's been trading. Then Jim showed his VXX and UVXY volatility based trades he's been doing.