Did my adjustments at 2:30pm-3pm and felt good going into the weekend until into the close and after hours where the RUT is taking a nose dive dip. It’s down about 20 points on the day. We’ve got another 25-30 points of downside room on the October trades before we have bigger issues and I am concerned with this right now.
The RUT has been erratic today and that’s causing me issues. Hoping for a somewhat tame or up open for Monday. The Rut was at 1195 a week ago and now it’s in the 1110’s and though I’ve adjusted appropriately and according to plan. I still can have some gamma issues on Monday if it’s a big gap down.
The November trade has not changed and is sitting perfectly for any pull back.
Hi
Nice to see that you started posting day to day details on your M3 trades. I am eager to see how it evolves.
Did you give up for now with the MIC? Do you believe that M3 is much safer, more stable and more profitable than MIC?
Thanks
emeric
Hi Emeric, I believe the M3 trade is much safer especially if you go farther out and close before 21 DTE. I’ll be doing a capital (and risk) efficient version of the m3 farther out and will close 21 DTE as I think this is the most stress free way to still obtain decent returns month on month. I don’t have plans for another MIC right now. Though I am planning on doing a version of the super simple spread bull vs spread trade as it is similar but safer than an mic. It’s another strategy from John Locke.