Day 103
We are in a volatile terrain now!
Market Recap
Both SPY and QQQ went down.
SPY is at ~$672, and QQQ is on ~$599.
VIX is high, and currently at ~29.5.
Trading Update
I closed a few trades this week, all positive. I also opened a set of new trades, which I will report on when they close.
First up was my fast becoming bread-and-butter trade - an SPX Iron Condor I had opened back in February. This was 43 DTE. Opened with $380 Credit. Closed with net $225 Debit. Overall Realized Profit of $380 - $225 = $155.00
Next, I sold a $200 Call on NVDA (17 DTE) on March 2nd, and then exited on March 3rd, with the bet that NVDA wouldn't breach $200 in the next 3 weeks. Overall Realized Profit was $164 - $111 = $53.00
And finally, another SPX Zero DTE Trade. And another win! I did this trade today, squeezing a $65 realized profit over nearly 2 hours, risking $1000.
So the total realized profit this week was: $155 + $53 + $65 = $273.00
Trade Ideas I am Thinking of For Next Week
And once again, trading SPX has been a clear winner.
On SPX, I have now made +$840 year to date, risking between $1000 to $2000 on any individual trade.
So next week as well, I am going to look for a small win in SPX.
Additionally, if VIX remains high, I might enter maybe one or two more $1000 or $1500 wide spreads.
Portfolio Status
Here is the current portfolio status, including unrealized P/L.
What I am beginning to understand is that you can likely still make money regardless of the macro environment, provided there are fair and open markets and transparent market participants. As an example, there is a significantly high volatility in the environment right now, with major indices like SPY and QQQ down for year to date. And yet, when I look at my portfolio, I have actually had realized gains across my closed trades.
And another thing I am now seeing more clear of is to not get bogged down by a single loss or trade, just keep every entry and exit small across each trade and work towards bending the law of averages to work in my favor.
Here are the tickers I have traded so far this year and their corresponding Profit/Loss so far.
And the last lesson I will share with you is that there is still so much I don't understand, and so many different techniques and strategies I still need to learn. For example, I have never opened a Butterfly. Well, I had never, today I did. It is still open, I will share how it went when I close it.
This is so much fun when compared to just buying and holding index funds or big name companies like AAPL (don't get me wrong - that actually is the majority of my portfolio). I just hope I keep my job in this climate so I can keep bankrolling this experiment and keep growing this account towards at least a $100K - right now across Tasty and Robinhood the net capital is just over $25K.
Thanks for reading. See you next week!
📌 Disclaimer: Nothing on this site is financial advice - I’m just here to entertain! Here’s my introduction, my trading philosophy, and some ground rules.
