The SPX position continues to make a killing and the RUT position has made some nice strides toward being profitable. As many of you know, I am exclusively using the TradeMonster platform for my paper trades on this site. One thing I will say about the TradeMonster paper trading platform. It is WAY harder to get filled on it then it is on the Think Or Swim paper trading platform. In my opinion, it make the performance of my sample trades much worse, but far more realistic. I would say that the fills on TradeMonster’s paper trader are actually WORSE than the fills I would get in real life. It’s actually a pretty good platform for training purposes from that respect. I have had to be profitable while knowing that I was going to get filled at least .25-.50 worse than I would in real life.
Back to our SPX position, I have a hard bid in place to buy the position back for 22.90. This would provide the position with a 10% YAC (yield after commission). The position actually marked at 22.80, but due to TradeMonster’s tough fills, I am still working my bid. On the RUT, the trade is just getting started but it is certainly starting to head in the right direction. I need to make 35 more cents to get back in business. I certainly think that will happen.
Stay tuned as I will have a new article available this weekend. Also the Option911 tip of the week WILL return on Monday. Have a great weekend.
Underlying Data
| Symbol | Close | Change |
| RUT | 610.57 | +6.32 |
| SPX | 1102.47 | +6.39 |
| VIX | 21.68 | -0.83 |
RUT Jan 2010 600 Call Calendar Summary
| 10 | RUT | FEB 10 | 600 Call | @ | 30.40 | Currently |
32.05
|
= | 10 * 100 * 1.65= | $1650 |
| -10 | RUT | JAN 10 | 600 Call | @ | 20.00 | Currently | 22.00 | = | -10 * 100 * 2.00 = | -$2000 |
| TOTAL UNREALIZED LOSS IS (excluding commissions) |
-$350 | |||||||||
| RUT Jan 10 600 Call Calendar | |
 |
 |
SPX Iron Butterfly Summary
| 20 | SPX | JAN 10 | 1145 Call | @ | 7.70 | Currently |
4.70
|
= | 20 * 100 * -3.00 = | -$6000 |
| -20 | SPX | JAN 10 | 1105 Call | @ | 21.00 | Currently | 20.00 | = | -20 * 100 * -1.00 = | $2000 |
| -20 | SPX | JAN 10 | 1080 Put | @ | 25.00 | Currently |
14.75
|
= | 20 * 100 * -10.25 = | $20500 |
| 20 | SPX | JAN 10 | 1040 Put | @ | 13.10 | Currently |
7.40
|
= | -20 * 100 * -5.7 = | -$11400 |
| TOTAL UNREALIZED PROFIT IS (excluding commissions) |
$5100 | |||||||||
| SPX Iron Butterfly | |
 |
 |
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{ 2 comments… read them below or add one }
Are you still planning on doing the reader mailbag? I personally really enjoyed them, and I think many other of your readers do so as well.
Yes I will be doing one next week