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Today, finally, the joint action of ERY, still loading up and also UNG, which surged up, loading up a good position, succeeded in pulling the PNL in the "underwater world". GDXJ hedged for a while, but bounced back in the last minutes returning to about 38.5. The "load" on ERY is pretty good...

Today we had a "pattern" a lot resembling Thursday 4: once again ERY has been loading up ("investment" phase) a lot, touching -9.4K while on the other hand GDXJ has been hedging the move, thus avoiding the PNL curve ending up "underwater" (it actually went negative during the day). Nothing to...

I have just removed the expired option layers and closed the 100 shares short on the TBT "manual" layer (belonging to the "protective configuration"). The application is now perfectly in sync with the account, and PNL accurate to the penny: Also, I have placed another "protective option-share...

Ok, the 2 TBT options have now been removed. In fact we get from our account view (green $ icon): ============================================== NOT MATCHING PRESENT IN THIS INSTANCE =============================================== Symb...

We ended this week. Here is a folio update: Today was a bit of a "rodeo" (which is good for scalping). As anticipated in a previous post, today we had a pair of TBT options expiring. After IB processes them I will discuss the actions needed to "re-sync" the application. (At this time the app...

And here is the automatic layer of GDXJ. Top picture shows, as usual, the open players, and the bottom picture all orders. While the price was quickly plunging, the application placed a series of "protecting" sell players which scalped a nice profit, since the "Bias-" game is asymmetric and the...

Here is a PNL update. We are still "above water", mostly thanks to GDXJ which hedged the "load" phase of ERY (which reached -6.2K):

Today GDXJ is finally moving significantly the way down. Added another "option-share protective configuration" to GDXJ . Usual type, with "ratio" R=4, expiration October 17, in about 43 days (we have currently 16 Calls in place for GDXJ): This move came just at the right time, because today...

It is also interesting to look at the current situation of UCO. This was the instrument which seemed to start a runaway and we have "armored" with a "load" of options. It turns out now that perhaps we have exceed in prudence (of course we do not know the future, and our approach is not...

Added another "option-share protective configuration" to TBT. Usual type, with "ratio" R=4, expiration October 17, in 44 about days (we have currently 19 Calls in place for TBT, 5 of which expiring in 2 days):

Let's now take a look at ERY. This went similar to TZA. Even if PNL is still negative, the situation looks perfectly fine. The instrument has been scalping in a 20% range. There are still a few protective buy players which are still open and that there are responsible for rising the buy-side...

It may perhaps be interesting to take a look at the 2 (currently) "extreme" instruments: maximum and minimum current PNL, to make some considerations and perhaps understand and take some actions on the "losing" one, if necessary. They currently are TNA and ERY (-1.8K right now). At this time...

Resuming after the "labor day". Removed the expired option layers: Just added a new "protective option-share configuration" to TZA expiry October 17 (so about 45 days), "usual" type R N CALL / - N PUT -N 100 shares] with R=4: We have a next expiration date on september 5 (TBT). From now...

Hi tropicalknight, thank you. Sure, the instrument selection is mostly up to the fund manager, the investors' preferences, and depends much on the available capital. This illustration is done by using ETFs, and in the space of the ETFs, that's pretty much what we get. Anyway, once one is...

We can also login in IB acct management and cross-check in Reports>Activity>Statements>Trades and we find a match: What, instead, remains a bit of a mystery (to me) is the "discrepancy", that we have already noted in a previous post, between the real PNL (the application's PNL is accurate to...

As a last detail, I mentioned that after expiry the price of an OTM option is forced to "0", to the purpose of PNL computations. This is done because we would never "receive" zero, so it must be forced algorithmically. More in detail, what the application does, is, for the expired options to...

I hope it did not sound complicated: it's actually easier actually doing this than explaining, or following on a thread. Anyway, let me make a "flashcard" with a simple summary of what to do on option expiration: ------------------- On option expiration ------------------- Method 1 (hopefully...

Finally, there is a short PUT of GDXJ and a short PUT of TBT. Then we are done. All the other ones expiring today are (largely, at least 18%) OTM. GDXJ TBT When the mkt closes, I will bring the price to 0 for all the OTM options, and then remove the 12 option layers expiring today,

TZA is just pretty much similar. We have 2 short PUTs ITM. Closed them and "bought back" 200 shares on the "manual" layer: (The only difference with previous case is that the option orders did not fill immediately, but took a few seconds.)

Ok let's begin taking care of the options, as we said. I just closed two short CALLs of TNA which were ITM, and sold 200 shares on the "manual" layer. All the other TNA options are abundantly OTM (and we just leave them there). So, we are done for now with TNA. Pretty simple. Let's proceed with...