Weekly Trade Summary: Mar 19-Mar 25

Last week I closed a losing trade in the March 31 expiration, and tried unsuccessfully to open a new butterfly on the May 31 expiration.  Meetings and travel made entering a new trade really challenging last week.

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Original Trade Entry: Jan 24 - BWB on the March 31 expiration (see this post)

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Adjustment: Feb 13 - moved all 3 of the 2300 puts to 2285 for a $3.70 credit (see this post)

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I currently have 7 open trades, with expirations in April (3) and May (4):

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Total defined risk for these trades has decreased with the trade closed last week and is currently at 39.9% of the account net liquidation value. This risk is broken down into the following groups:

• 12.3% of net liq - DOTM BWB - hedges
• 27.7% of net liq - core BWB (at 75% of target size, but increasing with new trades)

15 trades have been closed this year...9 wins and 6 losses. Return on the account for the year is at 1.5%.  Total win rate is at 60%.  Win rate on core trades is at 62% and on the low side of the expected range. Of the 7 open trades, 5 are core and all core are currently up money.

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Weekly Trade Summary: Mar 12-Mar 18

No new trades or adjustments this week.  Metrics are the same as last week.

I currently have 8 open trades, with expirations in March (1), April (3), and May (4):

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Total defined risk for these trades has decreased with the trades closed last week and is currently at 50.1% of the account net liquidation value. This risk is broken down into the following groups:

• 12.6% of net liq - DOTM BWB
• 37.5% of net liq - core BWB (at 75% of target size, but increasing with new trades)

14 trades have been closed this year...9 wins and 5 losses. Return on the account for the year is at 1.7%.  Total win rate is at 64%.  Win rate on core trades is at 69% and within the expected range.

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Weekly Trade Summary: Mar 5-Mar 11

Last week I opened two broken wing butterflies (BWB) on the SPX (May 12 and May 19 expirations), closed three of my existing positions for losses, and expired a DOTM insurance position for a small loss:

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The corresponding entries and adjustment descriptions for the closed positions are listed below in the order the trades were closed.

Trade Entry: Jan 26 - BWB on the Mar 24 expiration (see image or post)
Adjustment: Feb 17 - moved all 3 of the 2325 puts to 2310 for a $3.80 credit

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Trade Entry: Feb 2 - BWB on the Apr 7 expiration (see image or post)
Adjustment: Feb 13 - moved all 3 of the 2310 puts to 2300 for a $3.05 credit

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Trade Entry: Feb 9 - BWB on the Apr 13 expiration (see image or post)
Adjustment: Feb 17 - moved all 3 of the 2325 puts to 2315 fro a $2.90 credit

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Trade Entry: Jan 6 - DOTM BWB on the Mar 10 expiration (see image or post)
Adjustment: Feb 13 - moved 1 of the 2 2210 puts to the 2200 strike for a $0.30 credit
Note: This trade expired for a small loss on Friday

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As I've mentioned in my other weekly summary posts, my core BWB has historically had a 75% win rate and I felt I was long overdue for some losers.  These few losers were expected.  I currently have 8 open trades, with expirations in March (1), April (3), and May (4):

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Total defined risk for these trades has decreased with the trades closed last week and is currently at 50.1% of the account net liquidation value. This risk is broken down into the following groups:

• 12.6% of net liq - DOTM BWB
• 37.5% of net liq - core BWB (at 75% of target size, but increasing with new trades)

14 trades have been closed this year...9 wins and 5 losses. Return on the account for the year is at 1.7%.  Total win rate is at 64%.  Win rate on core trades is at 69% and within the expected range.

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Weekly Trade Summary: Feb 26-Mar 4

Had to attend a funeral last week and didn't enter any new trades.  Metrics are the same as the prior week.

I currently have 10 open trades, with expirations in March (3), April (5), and May (2):

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Total defined risk for these trades is currently at 64.0% of the account net liquidation value. This risk is broken down into the following groups:

• 15.8% of net liq - DOTM BWB
• 48.2% of net liq - core BWB at 75% of target size

Nine trades have been closed this year...eight wins and one loss. Return on the account for the year is at 2.8%.

Will evaluate my current positions next week and may close one or two of the losing trades.  Will also consider opening one or two new trades in the May expirations.

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