-

 Hi readers! This is just a routine update on my position. I have made a good amount of adjustments, so here are the updates:


For my QQQ spread, the stock price went all the way down to around 355, so my 364 puts were making a lot of money, but my 364 calls were losing a lot of money, too. So, I tightened the position by selling the calls and buying 10 of the Nov 3 353 calls, just to tighten the position and hedge against a big move back to the upside. Also, I calculated the thetas and deltas for my position, so to bring them near 0, I shorted 10 of the Nov 3 360 calls. This has also profited so far, and I am happy about that. Overall, I am currently making a nice profit on my QQQ position.


For AMD, I am down by a bit of money, but that is primarily because of my straddle. I tightened it recently, so the photo below will show my current position on AMD. Tomorrow, I plan to exit the 99 calls and maybe the 96 short puts. My plan is to sell the 99 calls and buy calls near the current stock price, $93.67, to hedge against a big move to the upside. My 105 short calls will also be making money everyday due to theta working in its favor (because it is a short option), and I think I may have to hold on to the short 96 puts, although it is my biggest loser right now. I will have to wait and also calculate my thetas and deltas and try to bring them back to 0.


Here is a picture of my current position:





I hope that my positions stay as is, and I think I have hedged well so far for my QQQ position. I just have to work on my AMD position, which will be tricky but worth it. 

That is it for today readers, and I will see you in the next update!

Popular posts from this blog

Trade Talk Post (Weekly Recap) - 2/18/2024

-
Image
Hi Readers! In this Trade Talk post, I will be talking about what changes, such as new positions and adjustments, have happened in the past week in my options trading portfolio. Here is the update: Monday (2/12/2024):  On Monday, the first thing I did was close out of the AMD position, which was in profit by a couple hundred dollars! I also opened two new positions, a long ATM straddle on SPY @ $500 strike price and a long calendar/time call spread on QQQ @ $435 strike price. The SPY straddle was in the March 01 expiration cycle, and the QQQ time spread was in the March 01 and February 23 expiration cycles. Wednesday (2/14/2024): On Wednesday, I made a lot of adjustments on the QQQ and SPY positions. First, since QQQ had dipped, the short calls were way out of the money and in profit and the long calls were not profiting. So, to tighten the spread, I closed out of the long $435 calls and bought the $432 calls. In case QQQ made a huge move upwards, then I could make a little extra profi
Read more
-
Image
  Hi readers! This is currently my portfolio. Currently, I am learning how to trade options, and I am using an online trading simulator for options and stocks, called TradeStation. As shown in the picture, I have a call ratio spread on for SPDR, and a put ratio spread on for QQQ. Both of these spreads are set to expire on July 28th. As of right now, both spreads are Out of the Money (OTM). Both spreads are losing money right now. I am surprised, as one week after I made these spreads, both spreads were in the money and profiting. Right now, I have to do something to increase my deltas for both spreads, as both stocks went up. I am thinking of buying some call options to increase my deltas. I can also purchase short puts instead. Also, currently my portfolio has $2,030,512 in cash.  In the next post, I will be talking about that spread. Thanks! 
Read more