I was planning to enter a new SPX trade in the Mar-24 expiration this week, but this option chain did not become available. This week three closing trades were executed and no new trades were opened:
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The corresponding entries for the three trades that were closed are shown below:
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All three trades that were closed were 3-lots, all expiring in March.
Eight trades have been closed this year...all profitable. Based on the statistics for these trades, I'm long overdue for a losing trade. The butterfly that I am trading has historically been in the 75% win rate range.
I currently have three trades open. One expires on Feb 3, and the other two expire in March or later. The two longer dated trades are non-core trades...active experiments.
Total defined risk for my three open trades is currently 14.2% of the account net liquidation value. This is quite a bit lower than I would like, with too much capital being underutilized at this time. All three trades will profit if the market moves down. The two non-core trades are using 9.3% of the account net liquidation value. The Feb 3 trade is using 4.9% of the account net liq, and would normally be closed by now, but will perform well if the market drops 2% to 4% by Feb 3.
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