Oct 16 – Trade Plan

Yesterday, I put on about 37 Bearish STTs to hedge off the 282 March STTs. The goal is to roll up the debit spreads to eventually convert into a regular STT when my market bias supports it. I removed 7 ES hedges at 2669 (this AM) after spending about 2 hours reviewing technical sources last night. Confident that we’re locally bottomed and that we’ll bounce. I’ll continue to review technicals and market commentary but I don’t have all that much risk on, especially as time goes by.

What I am most upset about is that I didn’t have dry powder to enter during the mini-crash. Ah well. Next time.

My BSH factory is approaching even today after the bounce. The shorts I sold were in Dec so they’re getting pulled right down.

My Mar STT CC campaign is down about 22-25k or so on 282 butterflies (71 units). Loads of theta. Healthy and hedged by a bearish STT
My Jan STT cc campaign made about 10k through the mini correction and has loads of theta (it’s in the most perfect position imaginable for the next two weeks)
My Dec STT cc campaign is break even through the mini correction
My KH hedges are all down now (~20k or so) but are mostly Dec PCS that are just ab it compromised. They will quickly deteriorate into a slightly below break-even result if things don’t crash. They did their job with margin control and slight hedges.
My X4 is down about 18k (I am waiting for a 2800/2810 to take it off)
My Rhino is break even (it went through a 15% crash, well handled)
My ES HS3 (Mar) is down about 80k but the hedges I had on are +32k so net down about 48k. Will come back quickly
My ES HS3 (Jan) is really flying and should make up for the Mar within 14 days (Perfect positioning)
I removed all my Dec HS3
My ES BSh factory is break even

Poker

I have to up my study game as the last week had my focuses elsewhere. New course came out that I am interested to audit (Nick Petrangelo). This week I’ll catch up. The tournaments start next week and I am off to MTL on the 21st. Should be fun!

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