Tuesday, February 05, 2013
Around 2:55 p.m. today I closed the other 25% of the IWM calls opened yesterday, the closing trade / charts kept me busy and unable to post the final P/L as there's a strange look to some of the charts as the day wore on as well as an eclectic mix of long and short trades that each looked good; I'll get in to the newly developing situation as I have more insight in to it; there's a fairly high probability it is a simple anomaly. In any case, here's the P/L for the last 25% of the IWM call position-the first 75% was closed at a +50% gain.
The final close of yesterday's call position (Weekly IWM Feb. 8th $89 Call) brought in an extra 2.27% at 52.27%
Take a look at the chart of the IWM...
This shows where the position was opened as well as the initial and final close of the position for roughly a +50% gain for a day again, not bad.
Here's the positive divergence in the short term 1 min chart yesterday in white and today's negative, this was intended to be a 1-day position.
With the earlier position, the total profit was $5,550 for a day.
I'm not sure holding on to the position for another couple of hours was worth it or not, I was hoping for a more volatile pop out of the earlier flag to boost the premium, but it was more of a steady climb. In any case, we've had a pretty steady stream of solid short term signals amongst this increasing volatility, so... as long as the market is giving, we are taking and hopefully not giving back.
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