Weekly Trade Summary: February 18 - February 24

This week I closed some hedges that were entered during the big market drop, and entered two new trades in smaller size. Details of this week's trading is shown below:

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Trade #4:  February 28 Weekly Expiration BWB - No adjustments this week

• 07-December Entry (post)
• 08-December Adjustment (post)
• 19-December Adjustment (post)
• 22-December Adjustment (post)
• 02-January Adjustment (post)
• 05-January Adjustment (post)
• 05-February Hedge (post)
• 06-February Hedge (post)
• 08-February Hedge (post)
• 09-February Hedge (post)
• 14-February Hedge Exit (post)
• 15-February Hedge Exit (post)

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Trade #5:  March 16 Monthly Expiration BWB - Adjusted 21-Feb

• 02-January Entry (post)
• 02-January Adjustment (post)
• 05-January Adjustment (post)
• 11-January Adjustment (post)
• 22-January Adjustment (post)
• 02-February Adjustments (post)
• 05-February Hedge (post)
• 06-February Hedge (post)
• 08-February Hedge (post)
• 09-February Hedge (post)
• 14-February Hedge Exit (post)
• 15-February Hedge Exit (post)

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Trade #6:  March 29 Weekly Expiration BWB - Adjusted 21-Feb

• 09-January Entry (post)
• 11-January Adjustment (post)
• 22-January Adjustment (post)
• 30-January Adjustment (post)
• 02-February Adjustments (post)
• 05-February Hedge (post)
• 06-February Hedge (post)
• 08-February Hedge (post)
• 09-February Hedge (post)
• 14-February Hedge Exit (post)

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Trade #7:  March 29 Weekly Expiration BWB - Adjusted 21-Feb

• 09-January Entry (post)
• 11-January Adjustment (post)
• 22-January Adjustment (post)
• 30-January Adjustment (post)
• 02-February Adjustments (post)
• 05-February Hedge (post)
• 06-February Hedge (post)
• 08-February Hedge (post)
• 09-February Hedge (post)
• 14-February Hedge Exit (post)
• 15-February Hedge Exit (post)

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Trade #8:  April 20 Monthly Expiration BWB - Entry 21-Feb

• 21-February Entry

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Trade #9:  April 30 Weekly Expiration BWB - Entry 21-Feb

• 21-February Entry

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I currently have 6 open trades, with expirations in Feb (1), Mar (3), Apr (2). Total defined risk for these trades is at 97% of the account net liquidation value. Removing hedges last week increased the risk in the account.

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4 of the 6 trades are currently underwater with negative P&L. All of the P&L% numbers in the table below are based on the maximum risk associated with each trade.

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If I were to close all four trades at this time, my account would be down 3.6% for the year ... not terrible considering the market action during the first part of February.

3 trades have been closed this year, with 3 wins and 0 losses. Realized return on the account/portfolio for the year is at 1.07%.  Total win rate is at 100% including hedges. The win rate on the core trades is also at 100%. These numbers will very likely change as I close out my open trades.

If the SPX continues much above 2750, I will need to start closing out my Feb and March expiration trades for losses. The Feb trade will be expiring this week and will be a loss. I will be keeping an eye on the SPX this week. I will make adjustments to my existing trades as follows:

• Highly Likely: N/A
• Likely: N/A
• Possible: #4, #5, #6, #7, #8, #9
• Unlikely: N/A

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