Jul 13 – Rhino M3 Trade Update

Not going to lie, yesterday was uber demotivating even with the experience I have in managing these trades. Both my Aug and Sep Rhino trades entered fairly negative territory with RUT @ 1210 which represents a 120 (11%) point move from just days before at the Brexit bottom. It’s just frustrating since both of those trades were up 4-5% and our balance was finally

soaring

after a very difficult year only to have the yearly profits dwindle down to mediocre levels in just days due to a fairly effed up move. Why was I demotivated? Well, it feels like every trade cycle (45 days) this year has had a challenging 9%+ up move. Those 9%+ up moves are the most difficult type of move to manage in this trade. Since when does the RUT have an up move of 9% or more every cycle? I think RUT is up what 28% from its Feb lows? No matter how you slice it, it’s difficult to profit in a 28% up move in just 5 months and I am getting sick and tired of mediocre results and the “of course its up 11% in a week and half” frustrations. I’d like to have normal cycles with either a down move, a neutral move or an up move of 7% or less 🙂

Anyways, today has given us some respite and on close yesterday I hedged more with 1230 call calendars and some 1180/1230/1260 call bwbs. Today I added more and I grabbed some long IWM @ 119.5 to help on any up move. I believe that we’ll have a small pull back but we’ll be off to the moon eventually. Things look pretty damn bullish but we’re in need of a healthy pull back.

On two of my accounts I got off my 1960/2040/2100 SPX Rhinos but I never got filled on my main account. I lost most of the profits on that one.

Most of my Rhinos are 1060/1110/1150 and 1050/1100/1140s with call calendars and call BWBs at 1230.

One other annoying thing, I had some short 1190 and 1210 calls for July that I left on to expire when RUT was at 1100. Lol, I realized 5 days ago that I still had them on and now they’re worth a lot more lol. Expiry was Jul 14 and there was no reason @ Jul 7 to think we’d get that high. My bad. I always close these but felt like there was little risk. I guess RUT is up like 10% in a few days…