DIA
The September spread expired safely with the SPY closing at 107 well below our Aug 115/116 credit spread. This was a only a five contract play at 27 cents. That left a profit of $117.50 after commissions. A 13.5% profit for the month.
This month the VIX is turning up a bit.
Jumped into DIA, SPY, FXI and GLD with both feet.
All of the ETF's are trading below the 200 day SMA, ADX is starting to turn up, the MACD turned down, and the ATR is still low.
Just started checking out TEDLINES PNF charts over at stockcharts.com for support and resistance reference.
Here are the trades I went in with today.
10 DIA Bear Credit Spread Sept 105/106 Calls for 17 cents credit
10 FXI Bear Credit Spread Sept 41/42 Calls for 16 cents credit
10 SPY Bear Credit Spread Sept 110/111 Calls for 19 cents credit
10 GLD Bull Put Spread Sept 116/115 Puts for 11 cents credit
1 comment:
What a painful few weeks it has been. So its now 1 week left to expiration and the markets moved up against my positions. SPY and XLE (which I entered later) are now past my shorts. UGH!
GLD kept right on going up and away. DIA is .50 away from hitting my lower short.
FXI is also .50 away from hitting my lower short.
Mistake 1. No cash left to adjust my position.
Mistake 2. Trusted probability analysis. Needs more review.
Mistake 3. ??
Hanging on for dear life.
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