Saturday, October 20, 2012

October Update

http://screencast.com/t/JRvcDadmMs

16 comments:

  1. Looks like you've been watching Tastytrade

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  2. That is correct. Below is an excerpt from one of my posts from June 2012 (SPX Strangle)

    sandeep June 19, 2012 6:50 PM
    I am heavily influenced by the trading style of Tom Sosnoff. I am a member of tastytrade and I strongly encourage anyone who wants to become a better trader to join tastytrade.

    https://www.tastytrade.com/tt/

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  3. Hi Sandeep,
    I've been a long time follower of you and Jason on this blog. My question is when did you begin adopting a more diversified portfolio of smaller positions similar to what Tom S does? Do you feel that its impacted your PNL profitably over the long haul?

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  4. Hi,
    Regarding diversification I think I've been doing that for a couple of years - and certainly as I've moved from trading primarily stock to primarily options my diversification has increased. There was a time when I was mostly in stocks that a single underlying represented more than 50% of my net asset value - and when it tanked my account suffered badly.

    Having multiple small positions makes things much easier to manage - I would refer you to my previous SPX trade in June 2012 as an example - it went badly from the beginning but because it was small I was able to easily adjust it and eventually turned it into a nice trade. That happens quite often but only if you remain small enough that you can adjust a bad position and wait till the market accomodates you.

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  5. Trade Update:
    Bought to close the Nov 1535 calls for $0.30 debit.

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  6. Sold 2 Nov 1305 Puts for $2.95
    Position is now:

    -5 Nov 1305 Put
    -5 Dec 1185 Put

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  7. Should have a nice jump in vol this morning, will lay out some more Dec SPX puts when market opens.

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  8. Sold 2 Dec 1170 Puts for $3.00.

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  9. Position Review:

    http://screencast.com/t/9uqDvAIHHDCU

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  10. Not much to talk about with the market closed, so for anyone interested here is a picture of the logo for our beer that I designed over the weekend and a mock up of what the mug will look like. Jason, if we meet someday I'll have a mug for you.

    http://screencast.com/t/j8pJ3dvFE

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  11. If I'm going to show the mug I should show the brew also - here is one of our current projects which has been fermenting in my basement for a few weeks. This is a Bourbon Barrel Stout, the bourbon soaked oak chips floating on top.

    http://screencast.com/t/kNG3zckP

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  12. Sounds good, we will meet up someday for sure.

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  13. Trade Update:
    Sold 7 Dec 1530 Calls for $1.41 to straddle the position.

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  14. Trade Update
    Bought to close the Dec 1530 calls for $0.60

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  15. Trade Update:
    Closed the November puts for $1.00 debit.

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  16. Closed out the Dec puts a little while ago - liked the position but needed to free up margin in the account. Will summarize results tomorrow in a November update post.

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