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2019 Trades

xlf: 10.23.19 – 12.20.19

ETF | Financial Sector | Status: Closed

Closing Trade

View original trade
12.20.19
This one never even gave me a chance. The market went straight up from the moment I put it on. Even though there was only a 12% chance it'd be a max loser when I first made this trade, it damn near happened. Just goes to show why you should never risk a lot of money on this type of position – even when it seems unlikely to lose it all. There's no defense in a worst case scenario – just set it up and pray it works. Guess I should have prayed harder! XX
Oh well, can't win 'em all. It's funny, even though this position had the lowest potential risk of all my trades this year, it is easily one of my worst losers of 2019. I held it for nearly 3x longer than my typical trade, and it never once worked in my favor. Today it finally
costing me about $182. It's always frustrating to lose, but keeping the risk small saved me from disaster. Over the course of 60 days, this loss amounts to around $3 per day – basically a daily mocha. The most painful part about this position was not the size of the loss but rather its sluggish decay and anticlimactic ending – it felt like watching ugly paint dry for two straight months. I'm hoping the market gives us some excitement very soon. I'd like to get back to selling

Risk Profile:

Figure 2

Strategy: Close Position

exp 1 dec 20 28 put
stc 1 dec 20 31 call
Fill Price: $0.25 credit

Position Analysis

U/L Price: $30.74
IV: 0.0%
IVR: 1.8
Liquidity: 4/4
Final P/L: $1.82 Loss

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2019 Trades
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