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Order to close everything @ SPY 138.

Considering closing my positions if price keeps going up today.

7/26: Open positions: SPY: $2,904 SH: -$836 Net for this trade: $550.64 (estimated dividend payment) $2,068 (net SPY/SH position) ----------------------------- $2,619.64

Basically, since I have no way of predicting where price is going to go, there's no reason for me to sell any calls since I'd probably pick the wrong direction anyway.

And in case anyone was wondering what it would look like if I sold both the SPY and the SH options: Red = lowest P/L Pink = second lowest P/L Yellow = second highest P/L Green = highest P/L So selling them both creates sort of a short strangle (which makes sense if you think about...

Here are all the option possibilities together on one table. The table is color coded in the three colums for no options, SPY calls, and SH calls: Green: highest P/L Yellow: middle P/L Red: lowest P/L

Yes, I know SH doesn't track SPY exactly so the numbers are bound to be off a little bit IRL. But this is close enough for the analysis I did.

I also ran the numbers with SH Aug 35 calls. The magic number here is SH around $36.39 (I made an error in my calculations and don't feel like redoing it) which translates to SPY of roughly $136... ish. So if SPY closes over 136 I make more money for having sold SH options, and if SPY...

So I have been thinking about how I could incorporate options as an exit strategy. Based on the current value of SPY and SH: If I were to sell Aug 137 calls I would get a premium of $1,208. Under these condition: - if SPY closes under 137 then nothing changes except I keep the premium -...

SH closed at the same price as yesterday but SPY closed slightly up. 7/25: Open positions: SPY: $1,136 SH: -$154 Net for this trade: $550.64 (estimated dividend payment) $958 (net SPY/SH position) ----------------------------- $1,532.64

7/24: Open positions: SPY: $1,112 SH: -$154 Net for this trade: $550.64 (estimated dividend payment) $958 (net SPY/SH position) ----------------------------- $1,508.64

7/23: Open positions: SPY: $2,040 SH: -$506 Net for this trade: $550.64 (estimated dividend payment) $1,534 (net SPY/SH position) ----------------------------- $2,084.64

Can you quantify why you're strategy isn't working as you had hoped?

7/20: Open positions: SPY: $3,144 SH: -$913 Net for this trade: $550.64 (estimated dividend payment) $2,231 (net SPY/SH position) ----------------------------- $2,781.64

7/19 Open positions: SPY: $4,152 SH: -$1,254 Net for this trade: $550.64 (estimated dividend payment) $2,898.00 (net SPY/SH position) ----------------------------- $3,448.64

Getting close, I think. I've been running some numbers to see what my options are for closing this position by selling ITM Aug SH calls. Let's say I sold 11 Aug $34 calls for $2.55. That's $2,805 premium and if price keeps going up I will keep making money on SPY and if SH happens to...

Not sure where the attachment went. Here you go.

7/18: Open positions: SPY: $3,864 SH: -$1,144 Net for this trade: $550.64 (estimated dividend payment) $2,720.00 (net SPY/SH position) ----------------------------- $3,270.64

7/17: Open positions: SPY: $3,056 SH: -$880 Net for this trade: $550.64 (estimated dividend payment) $2,176.00 (net SPY/SH position) ----------------------------- $2,726.64

Crazy range and movement and the trading day isn't over yet.