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Another green candle with breakout of bearish trendline(daily chart). It looks more and more bullish now. Anyway Im hesitating on opening new position. I am attaching monthly chart which suggest me that bund is not going to break above ~154.5 (trendline) and also I think that theres a good chance for bund to trade within triangle (~149-153).
Another calm and similiar to previous days session. Slowly but steady bund is moving higher.
I had opened many positions today and now I have significant upside exposure. Today I made assumption that correction is imminent after two week of gains but I might as well be wrong.
In case of breakout of 154.30 I will add some far OTM calls essentially making long ratio call spreads.
Today Im also publishing non-bund trades because they can significantly influence P&L.
It turns out that I was right and there was some profit taking on bund.
For + :
- I took care of upside - closed 155.5 / 157.5 written calls
- I took little profit from 153.5/152 spread, intention was to hold it much longer, but after morning sell off i made assumption that there will be rebound to 154, so i planned to open it again,
for - :
-with new written puts 150, 151.5 limiting profit in case of selloff
Accomplished today:
-added another bear call spreads 158.5/160 for 17tick (dec) with additional protection 158.5 sep
-again positioned for downside move with P152.5
Unfortunately despite early weakness bund closed session near the highs which suggests follow up tomorrow.
Just as I had expected, today there was a smooth, bullish session. Bund closed month near the highs of the month which is a bullish sign for trading in august.
I closed 155.5 written calls, and sold two puts @152, which was enough to neutralise delta(probably I should just get rid of 152.5P ).
I think the biggest mistake for this month was my reluctance to sold longer-dated puts. That could have been the main source of profit, instead i did made a lot of trades and took very little profit.
Also, for the next month I will try to use more margin up to 15k.
Very smooth session today. Bund breaked fib level and move up to 154.93.
I decided to sacriface little theta and buy 3 156 calls (dirty cheap). Also I closed one 158 written call(dec), and sold 157c nov in his place.
My position is very bullish now but with very limited risk to downside.
Margin usage had dropped significantly so im gonna look for more risk in the near future.
Today just one trade - I closed 152put, after I saw weakness in bund. Just as I was bullish yesterday, now Im bearish! (well, slightly)
Absolutely theres a place for correction after almost one month of gains.
What a day! I made a lot of trades today.
So lets get started.
In the morning I sold oct 157C (-3C+2*158cover) to take advantage of possible correction, but I wasnt sure how deep its gonna be.
Later after initial sell off I added to position more of the same.
At some point stops were being triggered so I tried take advantage of it by buying atm SEP 153.5C but I was unabled to close it so i sold few 154C to protect it. I think that tommorow bund should trade at some point around 153.6-8.
I noticed that NOV options are now quoted so i decided to take profit from dec shorts and replace it with nov options, strikes are lower but Im gonna take care of delta so it shouldnt be a problem.
(well, slightly)