Today I started entering my AUG/09 trades, I posted earlier in the day what is my plan and how I'll allocate the trading capital. I started with a SPY Double Diagonal, plan on entering the trade in two stages. I might also enter the RUT 30-Day condor this week (two stages as well).
All and all, my biggest surprise for the day were my two paper Iron Butterflies. I didn't check one vital component of the greeks and got crushed Today. See the postings for more details.
Live Positions:
SPY Double Diagonal (Live)
AUG/09 Trading Plan
Paper:
SPX Iron Butterfly
RUT Iron Butterfly
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2 comments:
Hi there,
I just started following your blog and am excited by what I see. I too am learning "the craft." I was wondering about your VIPES spreadsheet. I read through the post you did and was wondering if that was something you created and would be willing to share? It looks really great and I'm not an excel guru but know I would benefit from something like that.
Thanks!
Hi there, I would rather not publish the file because I'm not sure people will know how to use and I don't have the time to provide on-going support.
I'm working on a web-based application to do the same thing, that would be a lot easier for people to use, but that's a longer term project.. In the mean time, I used the instructions in the book called "The Volatility Edge in Options Trading" by Jeff Augen.
In any event, the book is a must read, it really helped me to understand implied and historical volatility and to look at prices in the context of standard deviations.
If you're in the Sheridan Mentoring program, I participate in the California Group 1, if you'd like, you can join one of the meetings and I'll be able to help out with questions you might have.. Or shoot me an email anytime.
Gustavo
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