121029 Weeklys Trade

Short week due to hurricane

Wed Oct 31

8:48 am

Entered order for 10 lots of the RUT (814.74) 790/795P; 830/835C @ $0.60

No takers. Market is .35 to .95

Market moved higher, midpoint rose and still no fill. Cancelled.

9:06 am

I do not want to sell options that are 10 points OTM

The 15-pointers (800P and 830C) are the only possible choices. That iron condor market is 0.40 to 0.95

Entered order: 10 lots: 830/835C; 795/800P with RUT = 815.47
credit: 70 cents. no fill
Changed to 65 cents filled at 9:09


RUT = 817.31
Short delta: 9 and 9

Market for iron condor: .25 to .45.

If I were able, I’d bid to exit this trade at 35 cents.
I cannot because this account (set aside for weekly trades) is less than $25k and I would become a ‘pattern day trader’ if I were to exit today.

Nov 1

Nice flat market should help us exit.
Will enter low-ball bid now and raise later.

8:26 am: Starting with 5 cents for each, but will change after I see the real market quotes

8:34 am: Sitting with the two 5-cent bids for now

9:39 am

RUT = 827.27

Stepped away from computer only to discover trouble.

Bought the put spreads at 5 cents
Call delta now 37. Not pleased.

2:51 pm

I missed a good opportunity when the market for the call spread was .20 to .40.

2:52 pm
I don’t see how I can hold overnight

2:54 pm
.70 bid//1.00 offered. Me? waiting…

2:55pm bidding 0.75

2:56 RUT = 828.30

2:57 RUT = 828.07
filled at 75 cents.

Track record updated.

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