September Results

This morning, I closed my final September options position. See this post for info on when I entered.

Here is a list of the results and some commentary on each:

$SPY Long Double Diagonal (sept/oct 94/95/106/107)

entered on 8/12 @ 1.18 debit

risked 11% of my portfolio

closed on 9/2 @ 1.65 credit

Net result after commissions: 17% profit on risk capital, 21 days held.

Notes: No adjustments were made.

$DIA Long Butterfly (Sept 88/93/98)

entered on 8/12 @ 1.65 debit

risked 8.5% of my portfolio

closed on 9/2 @ 2.25 credit

Net result after commissions: 29% profit on risk capital, 21 days held.

Notes: No adjustments were made.

$SPY Short Iron Condor (Sept 90/92/110/112)

entered on 8/11 @ .35 credit

risked 8.5% of my portfolio

covered short call option on 9/2 @ .04 debit

covered short put option on 9/10 @ .05 debit

Net result after commissions: 12% profit on risk capital, 30 days held.

Notes: only the short options were exited. I still maintain long Sept 90 puts and long Sept 112 calls at zero cost basis. These are essentially free lottery tickets in case the market makes an EXTREME move between now and September expiration (7 days from now).

$QQQQ Long 1-month Calendar (Sept/Oct 40 puts)

entered on 8/12 @ .49 debit

risked 5% of my portfolio

closed on 9/11 @ .56 credit

Net result after commissions: 4% profit on risk capital, held 30 days.

Notes: no adjustments were made.

Summary:

The returns on these four positions averaged 15.5% each and the average hold period was 26 days. As a whole, their gains represented a 5.6% return for my portfolio.

None of these positions required any adjustments, owing to the fact that the stock indexes mostly traded in a range during this time period. A strong move up in the 5 most recent trading days negatively effected the calendar spread in $QQQQ, but thankfully we were still able to exit at a small profit.

One position that was entered in August, but still on the books is a 3-month calendar spread. The september short strike was rolled into October for a .52 credit. This position -when closed - will be counted towards November results.

PS. Still waiting on a calender spread for October to be executed. Once this gets done, I'll publish my open positions for October expiry.