Hi All,
Have read the forums on and off over many years, never felt the need to post. This thread is dedicated to tracking results for my options portfolio, primarily selling premiums while hedging for total portfolio risk. Starting account Net Liq value for 2019 is $50,000 (slightly under by a few hundred dollars but you get the idea).
A little about me: Mid 30's professional with a strong financial education background working in a non-finance sales industry. Most of my adult life I have actively managed my long term investments. Never had an opportunity to dedicate enough time to actively manage on a regular daily basis until recently. An accomplished poker player throughout my 20's with a comprehensive understanding of expected value, probabilities, variance, bankroll management, emotional control, etc. Many of your typical transferable skills into active trading.
What you will get from this thread: My goal is to post positions I am entering/exiting, comment on strategy, and weekly running results.
What you won't get from this thread: I will not post specifics on entry points, trade sizes, selection criteria, etc. Goal will be to keep the conversation on higher-level thought process and strategy and not in the weeds too much.
Strategy: Collecting Theta and premium via (mostly) selling Verticals and Iron Condors generally targeting ITM probability of 22% or less. Position sizing will be 2-4% of Net Liq and no margin being used. Targeting DTE range of 30-45 and will look to exit positions well before expiration. Portfolio will consist of a mix of Index ETF and highly liquid stocks that have a strong correlation to SPX. Will manage a hedge position on entire portfolio to reduce tail-risk exposure.
Goal: My decade+ of experience playing cards helps me keep my expectations in check. I will be focused on generating high-probability winners and managing losers quickly with sometimes very Deep OTM positions. Let's start by growing the account balance 2-4% monthly while keeping risk in check.
-Poker Player
Have read the forums on and off over many years, never felt the need to post. This thread is dedicated to tracking results for my options portfolio, primarily selling premiums while hedging for total portfolio risk. Starting account Net Liq value for 2019 is $50,000 (slightly under by a few hundred dollars but you get the idea).
A little about me: Mid 30's professional with a strong financial education background working in a non-finance sales industry. Most of my adult life I have actively managed my long term investments. Never had an opportunity to dedicate enough time to actively manage on a regular daily basis until recently. An accomplished poker player throughout my 20's with a comprehensive understanding of expected value, probabilities, variance, bankroll management, emotional control, etc. Many of your typical transferable skills into active trading.
What you will get from this thread: My goal is to post positions I am entering/exiting, comment on strategy, and weekly running results.
What you won't get from this thread: I will not post specifics on entry points, trade sizes, selection criteria, etc. Goal will be to keep the conversation on higher-level thought process and strategy and not in the weeds too much.
Strategy: Collecting Theta and premium via (mostly) selling Verticals and Iron Condors generally targeting ITM probability of 22% or less. Position sizing will be 2-4% of Net Liq and no margin being used. Targeting DTE range of 30-45 and will look to exit positions well before expiration. Portfolio will consist of a mix of Index ETF and highly liquid stocks that have a strong correlation to SPX. Will manage a hedge position on entire portfolio to reduce tail-risk exposure.
Goal: My decade+ of experience playing cards helps me keep my expectations in check. I will be focused on generating high-probability winners and managing losers quickly with sometimes very Deep OTM positions. Let's start by growing the account balance 2-4% monthly while keeping risk in check.
-Poker Player
