Nothing too exciting related to the trades this week. I usually have some sort of market opinion but I really don’t right now. My guess if I had to state one is that we’d see some more weakness into October and probably touch 2040 and rebound up to 2300/2400 into the end of the year.
I put on some more SPX Rhino trades today. The pricing got way better in the afternoon and I bought several 2160/2100/2020s @ 2.75 and 2.80. Across all of my accounts I have 370/740/370 on. Big. Lots of downside room and lots of upside room at those prices. I’ll probably try to close them all by Nov 8 (start later and end earlier).
Here’s what one of the Dec SPX Rhinos look like
I’ve got a bit of RUT Rhinos on but not as much. I had great pricing early on but been struggling to get pricing I liked the past few days.
I’ll manage the SPX upside if we should break 2200 by selling condors or RHing. I probably won’t use calendars this time around. I do like how Jim Riggio (Kevlar) handles his trades. Not much else to say right now.
I’ve had to do nothing with any of these trades lately, boring, which is good. I am erring to start more like 86-88 DTE and end by 30 DTE. I am working on a full backtest with some updated rules and adjustment types.
I have been following your website for about a year now. I wanted to let you know that my Registered Investment Advisor firm manages index options trading accounts at TD Ameritrade. We do approximately 20% RUT Weirdors and the balance 80% are SPX butterflies which are my own blend of the Road Trip and the Rhino with my own version of adding layers. At this time we are managing $30 million. I can send you more information or we can talk on the phone. I think I would save you a lot of time and headache and make good money for you. Lets talk.
Hi Dorian,
My pleasure in life is managing trades and working them 🙂 So I wouldn’t pass this on to another service though appreciate the offer. Send me an email though would love to share info and talk strategy (I’ll pass it on in a message).