Cigar Butt hedge fund. journal.

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prc117f

Small trade initiated today. This is the Cigar Butt Hedge Fund. Real trades. I will be posting one of my brokerage accounts here on per initiated trade basis. occasional updates.

Today sold short SPY puts 225 expiring 28 days and took a little insurance on the bottom side for a couple of days in the event some kind of black swan event occurs and a huge plunge in the S&P happens.

If it does I will sell and close the insurance and take the cash and use it to sell more puts. The VIX in such a situation would probably be in the 30s. This is why I leave dry powder in the account as well.
 

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Total account value for the Cigar Butt Hedge Fund.
 

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prc117f said:
Small trade initiated today. This is the Cigar Butt Hedge Fund. Real trades. I will be posting one of my brokerage accounts here on per initiated trade basis. occasional updates.

Today sold short SPY puts 225 expiring 28 days and took a little insurance on the bottom side for a couple of days in the event some kind of black swan event occurs and a huge plunge in the S&P happens.

If it does I will sell and close the insurance and take the cash and use it to sell more puts. The VIX in such a situation would probably be in the 30s. This is why I leave dry powder in the account as well.
More...

Cool
Discretionary ? Systematic ? You delta hedge ?
 
Added an additional long 10 contracts on the 223 puts 5 day black swan insurance.

long 20 223's and short 10. 225
 

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haroldg said:
Do you generally sell verticals, or do you sometimes buy?
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It really depends on the situation. As you will see as the Journal of trade goes on. It is like any other tool. I have a system that will generate trade tickets which I have the option of initiating or not it is not automatic I have to key in the trade after review. It took several years of work I will post some screenshots of it in the future the interface is all text based :)
 

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I am not too sure whether it is a good idea to focus on a bear trend. But I do anticipate that stock indexes to fall sharply on Trump's inauguration.
 
Okay looks like I am taking a total loss on my blackswan insurance the 20 SPY 223 puts expiring today, Looks like Trump did his thing and now some news out of the way. No new long put positions to be initiated, will be monitoring markets/geopolitical events and other information.
 
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