c505218304b50c59c3659f6dda43bae7-links-0–>So looks like there’s some Fed event next week on Thursday, August 25.
“Amid conflicting signals from the Fed in recent days, central bankers from around the world will gather from Aug. 25 for an annual meeting in the mountains of Jackson Hole, Wyoming, with Yellen due to speak the following day.”
“There have been mixed signals this week from Federal Reserve policymakers, which left the market anticipating more direction at next week’s annual meeting of central bankers from around the world in Jackson Hole, Wyoming. At that gathering Fed Chair Janet Yellen is seen likely to cement expectations for a slow pace of rate increases.”
At the same time, silver is moving according to the pink line, currently at 19.28. Perhaps the Fed event can be a catalyst to turn this around for gold and silver?
Just a video on the power of timing when it comes to options:
As the market stays near all-time highs, it becomes harder and harder to make money as volatility is very low, yet there’s the risk of a sizable drop at some point the higher we go.
A few posts back in Tuesday, Will We Get the 5th Wave? – , I wondered whether we would get the conclusive 5th wave up. So far, it seems to not have happened. if it did, it seemed a but short on Monday Aug 15. Instead, it seems we may be getting an extension instead.
This past week, I initiated an iron condor, which was positioned for the target $1k – but made the mistake of touching it. If I had just let it play out and not react when the market tested the upside at 2190 – would have collected the full amount and reach our target.
But instead, when the market rallied right at the open on Monday, i thought something more bullish was playing out and thought I would cover the call side and re-enter a bit higher — which I could have done at 2190, but I was waiting for the 2195, which never happened. In the end, the market ended within a few points of where we entered right around 2180. Since I never got a chance to re-enter the call side, that side took a loss of $250 while the put side took a gain of about $700 – half of which was fully realized at expiration – and half of which was realized at the open on Friday.
So net was $450ish – $435.19 to be exact.
|Symbol||Cost Adj.||S/T Profit||S/T Loss||L/T Profit||L/T Loss||Total||S/T Profit||S/T Loss||L/T Profit||L/T Loss||Total||Total||Code|
|Equity and Index Options|
|SPY 19AUG16 213.5 P||0.00||0.00||-340.12||0.00||0.00||-340.12||0.00||0.00||0.00||0.00||0.00||-340.12|
|SPY 19AUG16 217.5 P||0.00||1,035.99||0.00||0.00||0.00||1,035.99||0.00||0.00||0.00||0.00||0.00||1,035.99|
|SPY 19AUG16 219.5 C||0.00||0.00||-214.41||0.00||0.00||-214.41||0.00||0.00||0.00||0.00||0.00||-214.41|
|SPY 19AUG16 222.0 C||0.00||0.00||-46.27||0.00||0.00||-46.27||0.00||0.00||0.00||0.00||0.00||-46.27|
|Total (All Assets)||0.00||2,235.37||-600.80||0.00||0.00||1,634.57||612.23||-1,029.17||0.00||0.00||-416.94||1,217.63|
|Mark-to-Market||Realized S/T||Realized L/T|
|USLV||VELOCITYSHARES 3X LNG SILVER||-1,699.99||1,251.39||1,199.38||1,199.38||0.00||0.00|
|Equity and Index Options|
|GDXJ 160715C00044000||GDXJ 15JUL16 44.0 C||0.00||1,280.72||0.00||1,280.72||0.00||0.00|
|IWM 160722C00118000||IWM 22JUL16 118.0 C||0.00||291.75||0.00||291.75||0.00||0.00|
|IWM 160729C00118000||IWM 29JUL16 118.0 C||0.00||942.19||0.00||942.19||0.00||0.00|
|SLV 170120C00022000||SLV 20JAN17 22.0 C||-682.72||-590.59||0.00||0.00||0.00||0.00|
|SPY 160630C00200000||SPY 30JUN16 200.0 C||0.00||1,848.80||0.00||1,848.80||0.00||0.00|
|SPY 160708P00199000||SPY 08JUL16 199.0 P||0.00||-163.45||0.00||-163.45||0.00||0.00|
|SPY 160708P00204000||SPY 08JUL16 204.0 P||0.00||548.51||0.00||548.51||0.00||0.00|
|SPY 160708C00207000||SPY 08JUL16 207.0 C||0.00||864.26||0.00||864.26||0.00||0.00|
|SPY 160708C00211000||SPY 08JUL16 211.0 C||0.00||473.06||0.00||473.06||0.00||0.00|
|SPY 160708C00214000||SPY 08JUL16 214.0 C||0.00||-92.93||0.00||-92.93||0.00||0.00|
|SPY 160715P00207500||SPY 15JUL16 207.5 P||0.00||-89.45||0.00||-89.45||0.00||0.00|
|SPY 160715P00212500||SPY 15JUL16 212.5 P||0.00||415.52||0.00||415.52||0.00||0.00|
|SPY 160722P00203500||SPY 22JUL16 203.5 P||0.00||-428.17||0.00||-428.17||0.00||0.00|
|SPY 160722P00208500||SPY 22JUL16 208.5 P||0.00||1,146.80||0.00||1,146.80||0.00||0.00|
|SPY 160805P00211000||SPY 05AUG16 211.0 P||58.97||-11.25||-11.25||-11.25||0.00||0.00|
|SPY 160805P00216000||SPY 05AUG16 216.0 P||-1,149.80||-917.55||-917.55||-917.55||0.00||0.00|
|SPY 160812C00214000||SPY 12AUG16 214.0 C||1,283.33||1,283.33||1,283.33||1,283.33||0.00||0.00|
|SPY 160819P00213500||SPY 19AUG16 213.5 P||-340.12||-340.12||-340.12||-340.12||0.00||0.00|
|SPY 160819P00217500||SPY 19AUG16 217.5 P||1,035.99||1,035.99||1,035.99||1,035.99||0.00||0.00|
|SPY 160819C00219500||SPY 19AUG16 219.5 C||-214.41||-214.41||-214.41||-214.41||0.00||0.00|
|SPY 160819C00222000||SPY 19AUG16 222.0 C||-46.27||-46.27||-46.27||-46.27||0.00||0.00|
|[Members Only]||[Members Only]||-167.63||-167.63||0.00||0.00||0.00||0.00|
|[Members Only]||[Members Only]||289.28||289.28||0.00||0.00||0.00||0.00|
|Total (All Assets)||-1,633.38||8,609.76||1,989.09||9,026.70||0.00||0.00|
The market didn’t quite make it to 2186 yet in the blue chart and neither did it go straight up in green light. Instead, it tested 2173 and 2176 and closed over 2180 as shown in the chart further above.
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