• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Locke In Your Success

Locke In Your Success

Learn how to create income from options trading

  • Home
    • About
    • Testimonials
    • Our Team
      • Sherri Locke
      • Stephen Hammit
      • John Locke
    • Contact
    • Privacy Policy
  • Coaching
    • Fundamentals In Trading Library
    • Options Trading for Income Weekly Webinar
    • GO Ask A Trader Sessions
    • Trading With The Pros
    • Trading Performance Sessions
    • Market Outlook Weekly Webinars
    • Personal Coaching Sessions
  • Become A Member
    • GO Membership
    • PRO Membership
    • Trading Performance Membership
    • Market Outlook Membership
    • Basic Membership
    • Membership Level Comparison
    • Trade Alert Services
  • Trading Courses
    • Options Trading Strategies
      • The Bull
      • Quick & Dirty Broken Wing Butterfly
      • The Super Bull
      • The Bear
      • Unbalanced Butterfly 1 and 2
      • M3.4u
      • V32
      • X4 System
      • Bearish Butterfly
      • M3
      • The ROCK
      • M21 System
    • Trading Performance Courses
      • Advanced Personal and Position Management
      • Broken Wing Butterfly Master Course
      • The Trading Triangle
      • Trader Transformation Workshop
      • Ultimate Income Trader Workshop
      • How To Best Utilize Calendar Spreads
    • Enriching Sessions
      • Performance Parking Portfolio
      • Boost Trading Results Through Proper Back Testing
      • Managing Risk When Entering, Exiting, or Rolling Positions
      • Far Out M3
      • How To Build Winning Trade Plans
      • Reading Your T+0 Line
      • Trading Lab – Design a Trade
      • Trading Lab – M3LT
      • ROCK’in 2018
      • Trading Lab – Roll Baby Roll Index
  • FREE Resources
    • Free Options Trading Consultation
    • Options Trading FAQ
    • Trading Performance Podcast
    • The Winning Trade
    • Successful Trader Presentations
    • TRADING SUCCESS BLUEPRINT
    • FREE Basic Membership
    • Calendar
    • Recommended Reading List
    • Brokerage Firm Selection Process
    • Fundamentals In Trading Definitions
    • Trader Inspiration
    • Financial Freedom Classroom
  • Blog
  • Log In

August 15, 2011 Trade Update

August 15, 2011 by John Locke Leave a Comment

Hi All,

We’re still getting huge daily moves in the RUT!  3+% just today.  The directional trades who are in the correct direction are loving this! Us market neutral traders, not so much, but our time will come!

Today, I had to make a choice on whether to add risk to the Sept 55 day trade or to take my money and call it a day. I decided to take the money. The trade ended up making a whopping $532 and that is only because I cheated by adding TWM, the ultra inverse IWM ETF, and the timing happened to be right. If you recall I added TWM on the last big down day of the sell off and sold it at the end of that same day. This is the reason for the large capital level in the trade. The maximum investment in the trade was $13929 which makes the return on investment was 3.8%.

As you may recall I am not trading the September method 15 this month so the September trades are done and it is on to October!

Speaking of October, I entered the October M3 trade last week and forgot to post it. The trade was entered on 5/11/11. When I entered the trade, I bought the wrong call, so later in the day the incorrect call was sold and the correct one purchased. The current position consists of 2 – OCT  590/640/690 put butterflies on RUT and 1 OCT 45 call on IWM. As of today the position is WAY past its adjustment point but since it is so early in the trade, Delta is flat, Theta is +, Vega is – and the position is up $150, I’m going to give the market a chance to settle before making an adjustment.

Below is the current position:

That’s it for now, happy trading!

Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin
Pin on Pinterest
Pinterest
Email this to someone
email

Filed Under: Options Trading for Income Weekly Update

Reader Interactions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

Recent Posts

  • The Winning Trade Episode 84
  • Stock Market Emotions!
  • The Winning Trade Episode 83
  • Trading Reality Distortion
  • The Winning Trade Episode 82

Categories

Search

Copyright © 2022 · Locke In Your Success, LLC. All rights reserved worldwide · Site Maintained by Nustart Solutions