Microscopic option selling

deltazero · Jan 14, 2014

Account value $2781

deltazero · Jan 15, 2014

Account value $2802

deltazero · Jan 16, 2014

Account value $2786.
CLF:
Short options expire tomorrow. 23 put costs $27, which is more than 1% in underlying's move. Also, my call has strike 25, I don't think it will get ITM tomorrow. I decided to keep my put. If I call had strike 23 with risk of going ITM, I would roll today.

deltazero · Jan 18, 2014

Account value $2707, main reason for loss is falling value of 30 Jan16 call (current loss -$692).
I rolled my CLF short options to JanWk4, strike 23.

deltazero · Jan 21, 2014

I rolled my call down to 21.
Account value $2702

riskaddict · Jan 21, 2014

What was your reasoning for using CLF for this strategy?

Also what was the IV:HV when you started?

deltazero · Jan 22, 2014

Account value $2679

deltazero · Jan 23, 2014

riskaddict said:
What was your reasoning for using CLF for this strategy?

Also what was the IV:HV when you started?

CLF: Right price so I could use it with my small account. Also weekly options available.
IV:HV: Not important as I'm not trying to predict anything.

deltazero · Jan 23, 2014

Account value $2728

deltazero · Jan 24, 2014

Account value $2702. Rolled short calls to 19.5 JanWk5, sold long 27 Put.