Another bad week - Weekly summary (Oct 21 - Oct 25)
The week started off great.
But, it finished terribly.
Sigh.
0DTE lost, trade ideas lost.
Overall, it was just a really really bad week for my profits.
Opened: #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| IYR | open | BPS (IC) | 2024-10-21 | 2024-11-29 | 96 | 95 | 0.17 | 1 | 1.41 | 15.59 |
| IYR | open | BCS (IC) | 2024-10-21 | 2024-11-29 | 102 | 103 | 0.39 | 1 | 1.41 | 37.59 |
| XLB | open | BCS | 2024-10-23 | 2024-12-20 | 97 | 98 | 0.51 | 1 | 0.61 | 50.39 |
| TLT | open | BPS (IC) | 2024-10-24 | 2024-12-06 | 90 | 89 | 0.28 | 1 | 1.41 | 26.59 |
| TLT | open | BCS (IC) | 2024-10-24 | 2024-12-06 | 95.5 | 96.5 | 0.25 | 1 | 1.41 | 23.59 |
| IWM | open | BPS (IC) | 2024-10-25 | 2024-12-06 | 210 | 209 | 0.22 | 1 | 1.42 | 20.58 |
| IWM | open | BCS (IC) | 2024-10-25 | 2024-12-06 | 227 | 228 | 0.35 | 1 | 1.41 | 33.59 |
| QQQ | open | BCS | 2024-10-25 | 2024-11-29 | 505 | 506 | 0.51 | 1 | 1.43 | 49.57 |
I am re-evaluating my weekly SPY strategy, so didn't trade it this week.
All trades are from Option Alpha trade ideas. I have been piling up the losses with this strategy though, so may need to end it soon.
Closed / Expired: #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EFA | open | BCS | 2024-09-12 | 2024-10-18 | 81 | 82 | 0.54 | 1 | 1.41 | 52.59 | $12.59 |
| EFA | assigned | short call | 2024-10-18 | 2024-10-18 | 81 | 0 | 81 | 1 | 0 | 8100 | |
| EFA | close | short | 2024-10-21 | 2024-10-18 | 81.39 | -81.39 | 1 | 1 | -8140 | ||
| SPY | open | BCS | 2024-09-12 | 2024-10-25 | 560 | 561 | 0.529999999999999 | 1 | 1.43 | 51.5699999999999 | -$48.43 |
| SPY | assigned/exercised | BCS | 2024-10-25 | 2024-10-25 | 561 | 560 | -1 | 1 | 0 | -100 | |
| QQQ | open | BCS | 2024-09-13 | 2024-10-25 | 480 | 482 | 1.02 | 1 | 1.44 | 100.56 | -$99.44 |
| QQQ | assigned/exercised | BCS | 2024-10-25 | 2024-10-25 | 482 | 480 | -2 | 1 | 0 | -200 | |
| XSP | open | BCS | 2024-09-16 | 2024-10-25 | 569 | 570 | 0.5 | 1 | 1.86 | 48.14 | -$51.86 |
| XSP | assigned/exercised | BCS | 2024-10-25 | 2024-10-25 | 570 | 569 | -1 | 1 | 0 | -100 | |
| SPY | open | BCS | 2024-09-16 | 2024-10-25 | 568 | 569 | 0.489999999999999 | 1 | 1.43 | 47.5699999999999 | -$52.43 |
| SPY | assigned/exercised | BCS | 2024-10-25 | 2024-10-25 | 569 | 568 | -1 | 1 | 0 | -100 | |
| XSP | open | BCS | 2024-09-23 | 2024-10-25 | 572 | 573 | 0.619999999999999 | 1 | 1.86 | 60.1399999999999 | -$39.86 |
| XSP | assigned/exercised | BCS | 2024-10-25 | 2024-10-25 | 573 | 572 | -1 | 1 | 0 | -100 | |
| QQQ | open | BCS | 2024-09-30 | 2024-10-25 | 490 | 491 | 0.49 | 1 | 2.13 | 46.87 | -$53.13 |
| QQQ | close | BCS | 2024-10-25 | 2024-10-25 | 491 | 490 | -1 | 1 | 0 | -100 | |
| SPY | open | BCS (IC) | 2024-10-15 | 2024-10-25 | 594 | 597 | 0.38 | 1 | 3.09 | 34.91 | $34.91 |
| SPY | expired | BCS (IC) | 2024-10-25 | 2024-10-25 | 597 | 594 | 0 | 1 | 0 | 0 | |
| SPY | open | BPS (IC) | 2024-10-15 | 2024-10-25 | 567 | 564 | 0.22 | 1 | 3.09 | 18.91 | $18.91 |
| SPY | expired | BPS (IC) | 2024-10-25 | 2024-10-25 | 564 | 567 | 0 | 1 | 0 | 0 |
- Closed Net Profits/Loss: -$278.74
Another terrible week for Option Alpha "trade ideas" strategy. Not one trade idea has been profitable the last couple weeks.
0DTE Trades: #
Traded the EMA trend following 0DTE strategy again.
Flip flopped between taking profits early or not.
Started off well, but got hammered the last couple days. Wasn't planning to trade at all on Friday, but did one half ass trade and it cost me.
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPX | open | BPS | 2024-10-21 | 2024-10-21 | 5830 | 5805 | 1 | 1 | 3.21 | 96.79 | $43.67 |
| SPX | close | BPS | 2024-10-21 | 2024-10-21 | 5805 | 5830 | -0.5 | 1 | 3.12 | -53.12 | |
| SPX | open | BPS | 2024-10-21 | 2024-10-21 | 5835 | 5810 | 1.1 | 1 | 3.21 | 106.79 | $28.67 |
| SPX | close | BPS | 2024-10-21 | 2024-10-21 | 5810 | 5835 | -0.75 | 1 | 3.12 | -78.12 | |
| SPX | open | BPS | 2024-10-22 | 2024-10-22 | 5830 | 5805 | 1 | 1 | 3.21 | 96.79 | $53.67 |
| SPX | close | BPS | 2024-10-22 | 2024-10-22 | 5805 | 5830 | -0.4 | 1 | 3.12 | -43.12 | |
| SPX | open | BCS | 2024-10-23 | 2024-10-23 | 5820 | 5855 | 1 | 1 | 3.21 | 96.79 | $96.79 |
| SPX | close | BCS | 2024-10-23 | 2024-10-23 | 5855 | 5820 | 0 | 1 | 0 | 0 | |
| SPX | open | BCS | 2024-10-23 | 2024-10-23 | 5810 | 5830 | 1 | 1 | 3.21 | 96.79 | $96.79 |
| SPX | close | BCS | 2024-10-23 | 2024-10-23 | 5830 | 5810 | 0 | 1 | 0 | 0 | |
| SPX | open | BCS | 2024-10-23 | 2024-10-23 | 5800 | 5840 | 1 | 1 | 3.21 | 96.79 | -$124.86 |
| SPX | close | BCS | 2024-10-23 | 2024-10-23 | 5840 | 5800 | -2.2 | 1 | 1.65 | -221.65 | |
| SPX | open | BPS | 2024-10-24 | 2024-10-24 | 5780 | 5730 | 0.9 | 1 | 3.21 | 86.79 | -$81.42 |
| SPX | close | BPS | 2024-10-24 | 2024-10-24 | 5730 | 5780 | -1.65 | 1 | 3.21 | -168.21 | |
| SPX | open | BPS | 2024-10-24 | 2024-10-24 | 5785 | 5755 | 1 | 1 | 3.21 | 96.79 | -$121.42 |
| SPX | close | BPS | 2024-10-24 | 2024-10-24 | 5755 | 5785 | -2.15 | 1 | 3.21 | -218.21 | |
| SPX | open | BCS | 2024-10-24 | 2024-10-24 | 5820 | 5850 | 0.85 | 1 | 3.12 | 81.88 | -$94.87 |
| SPX | close | BCS | 2024-10-24 | 2024-10-24 | 5850 | 5820 | -1.75 | 1 | 1.75 | -176.75 | |
| SPX | open | BPS | 2024-10-25 | 2024-10-25 | 5810 | 5775 | 1 | 1 | 3.21 | 96.79 | -$101.42 |
| SPX | close | BPS | 2024-10-25 | 2024-10-25 | 5775 | 5810 | -1.95 | 1 | 3.21 | -198.21 |
-
0DTE Closed Net Profits/Loss: -$204.40
-
TOTAL WEEKLY NET PROFITS/LOSS: -$483.14
Shiet.
Notes and Lessons #
Very bad week.
I am in need of some good wins soon. Getting depresssing.
Take profits early or not #
My 0DTE trades started off great. I Was taking profits a bit early the first couple days, and it was working out well for me.
Then, I decided to let things run to expiry on Wednesday, and it cost me some profits, although I still finished up overall on the day.
Then, things went to shit on Thursday as I got stopped out on all of my positions. I wasn't going to trade Friday, but wanted to make up some losses. Ended up losing another $100.
Now, I'm thinking if I should settle on a fixed profit taking or profit target strategy. I'm thinking of something liek 50%, or if I'm up $100 on the day, I just close everything?
If I'm up like $500 on the week, then I just stop trading? I don't know.
Trade Ideas failure #
Option Alpha's Trade Ideas has cost me over $1000 this month. Not good.
One problem is that I opened way too many positions with the same expiry date.
I got a bit carried away making trades when I first started, and it has come back to bite me in the ass.
If at the end of next month I don't start seeing some positive results, I think I will stop trading this strategy.
Losing confidence #
I have losing a lot recently. It sucks. My account has gone from +$3k to negative -$500 over the past few months.
I keep hopping between strategies, but nothing seems to be working right now.
I need to find something to stick with.