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Saturday, February 24, 2024

$100K Hedged Virtual Portfolio Update

This week we made several $100KP Adjustments, which triggered during Tuesday's chat.

However, only the entries on the new trades will be adjusted as the intention of the virtual portfolio is to do weekly adjustments only on trades once we hit our entries.  We don't trust the markets enough this week to add any sectors so we're still just messing around with the financials at the moment but we did add our DBC and UNG plays with mixed results.

On Tuesday I did suggest a couple of changes to the existing positions: 

  • Taking out the C $3 calls for .30 (now .44 - up 46%)
  • Selling 2 IYF $34 puts for 2.10 (now .80 - up 62%) and rolling the $36 puts down to more $34 puts.  
    • Not big deal if you missed it as the $36 puts are still on track to expire worthless.  
  • Selling 2 more JPM $28 puts for $2 (now .73 - up 63%)
  • Stopping out the FAZ puts at $1.60 as that was a 50% gain - they are now back to $2.83 (up 77%) and THAT is why we take profits off the table!

It is a very choppy market and we can make fantastic gains like this making mid-week adjustments.  If you are following this virtual portfolio - make sure you are signed up for Alerts (this one came Tuesday at 10:37) and our upgraded system will be able to put titles on the Alerts so future mailings should get your attention quickly when they are about the Sample Portflio.

Whether you made the adjustments or not, there are no changes to be made this weekend as we're drifting into next week pretty much where we were at the end of last week and the puts and calls we sold are losing their premiums right on schedule.  Our new trades are going well so far off the Tuesday entries and it really paid to wait:

  • Selling 10 FAS May $6 puts at $1.20
    • Now .57 (up 52%), need a stop at .65
  • 200 GE at $11.28, selling June $10 puts and calls for $2.95, net $8.33/9.17
    • GE is now $12.11 and the June $10s are $3.06 so very good so far.

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