I am trading from the boat today with a few friends. I pretty much neutralized the December trades yesterday. The December trades themselves are very profitable, it’s been a great month. I was a bit pissed off yesterday when I made the worst timed adjustments ever, I literally adjusted when RUT hit 1151 (the absolute low!) and had it rebound literally 30-60s later up to 1159. Annoying. If the trades weren’t so high gamma and close to Expiry (9 days), I’d have waited till 2:30pm but the deltas got high and I can’t trust OVs model yet (which spits out too delta negative). Probably a few k in adjustments right there.<\/p>\n
The January rhino had 10 call calendars taken off to lessen the positive deltas. This was the first adjustment of the trade. I entered another 1170 Feb Rhino. I’m almost 75% cash right now as I unwind December. I’d normally just jump in a Feb Rhino but the looming Dec OPEX and potential rate hike in 7 days has me wanting to wait until the fireworks are over. It’s only another week or so. <\/p>\n
As the months have gone by since Aug, I’ve been peeling more and more of the protector off and I am down to 25% of what I was, I was hoping for a normal santa rally to get the rest off, but so far it’s been mostly a volatile range. I’ll keep it on until early Jan and, if I see opportunity for options trades and it requires my margin, I’ll remove it at that time.<\/p>\n","protected":false},"excerpt":{"rendered":"
I am trading from the boat today with a few friends. I pretty much neutralized the December trades yesterday. The December trades themselves are very profitable, it’s been a great month. I was a bit pissed off yesterday when I made the worst timed adjustments ever, I literally adjusted when RUT hit 1151 (the absolute … Continue reading Dec 9 – Trade Plan<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[28,27,25,33,31,32],"class_list":["post-1104","post","type-post","status-publish","format-standard","hentry","category-trades","tag-john-locke-m3","tag-john-locke-trades","tag-m3","tag-rhino-m3","tag-rhino-m3-trade","tag-rhino-trade"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p5IMbd-hO","jetpack-related-posts":[],"_links":{"self":[{"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=\/wp\/v2\/posts\/1104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1104"}],"version-history":[{"count":2,"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=\/wp\/v2\/posts\/1104\/revisions"}],"predecessor-version":[{"id":1106,"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=\/wp\/v2\/posts\/1104\/revisions\/1106"}],"wp:attachment":[{"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1104"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.travelsandtrades.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}