Oops, forgot to post an update yesterday:
8/18:
SPY -$51,471.00
hedge $5,615.64
Net for this trade
-$45,855.36 (unrealized)
+$1,223.60 (realized)
+$2,931.69 (realized)
+$1,129.72 (dividend)
------------------------
-$40,570.35
8/17:
SPY -$22,059.00
hedge $3,422.13
Net for this trade
-$18,636.87 (unrealized)
+$1,223.60 (realized)
+$2,931.69 (realized)
+$1,129.72 (dividend)
------------------------
-$13,351.86
Pretty much no change from yesterday.
Best way to gamble is to use the most leverage possible, which is likely going to be futures contracts. Just go long (or short) as many ES contracts as you can buy and hope for the best.
That's the best way to gamble in the markets.
$160,000 in 15 days with 10 contracts is pretty good.
No idea who that is so I googled him and found this as the first result:
http://www.tradersnarrative.com/caveat-venditor-117.html
Always drama in the trading world.
It's not a direct hedge. I will occasionally cash part or all of it out or sometimes add to the position.
And since I can't predict direction I have no way of knowing where price is going to go, or for how long. The hedge is basically a "bonus," whether it's an extra $100 or $5,000. even...