It is another painful week for my trading account, as the down trend and the whippy action continues. I close some trades for big losses. This was the worst down month since February 2009. Here is a trading recap:
Fri close TLT Mar 108 calls @108.3 stop-loss
Close BA Feb 125 puts @124.0 stop-loss
Both Boeing and the U.S. Treasury ETF moved enough that my short strangles went deep into the red. Both crossed the strike price, which get me out. My intra-day timing was poor, because I could have gotten out at much better prices. However, no one knows that for sure. Sometimes a trending move just keeps going.
Wed sell BA Feb 140 calls to rebalance the strangle. This was washed away by the continuing down trend in Boeing.
Sell AMGN Mar 135 calls @120.5 to hedge after earnings
Sell BRKB Feb 115 calls @111.3 to hedge, to reduce my delta. I am trying to thread the needle here.
Tue Sell KORS Feb 67.5 puts @81.2 rebalance
Mon sell GS Feb 180 calls @.28 @165.7 rebalance
cover short XRT Feb 80 puts @1.63 @79.9 stop-loss
cover short XOP Feb 64 puts @1.49 @64.8 stop-loss
net short BA TLT XRT XOP
net long ASH BRKB GLD GS IWM KORS OXY SPY
net neutral AMBA AMGN
long DAL LGF MRK PG TM WFC