Week 5 Performance Update

Another good week for the market and another good week for me. I wonder how long I can keep this correlation going?

Didn’t look at the number but I think I underperformed against the market this week. But I am happy with my results this week considering the portfolio is delta negative.

The most significant trade of the week has to be going long on QQQ with a covered call on Wednesday. However, it got called away after Friday expiration. I decided not to add more positive deltas beside the near the money puts to cover my current short positions.

New short position added this week was SPY at $267 and DIA at $250. There was also the $270 short call on SPY as well. That one was closed early for partial profit. The thinking was it might be too much shorts at one time and the broker might not be happy about it. Current short balance is more than my Net Liq. No new short calls were added for the coming week.

Holding -400 shares short is almost like having only 1 futures contract so I am not worried at all with the size. I will get back to adding futures option again when the market move back near all time high. Any weakness in the market and I will use futures to press for more gains on the down side.

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