Current Rankings

The rankings after the first week are out and damn, that is some fierce competition. I told you I expected to be +20% by the end of this week but the top six places were already better than that at the end of last week! Much of my strategy depends on option decay so I will be seeing the biggest gains during options expiration week (this week), but still. Congrats to those top contenders I recognize a few of you from last year. I have a link to the current rankings on the left hand side of the blog if you want to see the standings directly from IB. They will be updating the rankings every Monday afternoon.

On a sour note, my program had a major catastrophe while I was in class today. SOLF tanked again and the program once again got stopped out of its position (at a huge loss). But the order took so long to fill that the software sent out another order to cover which resulted in a net long position in arguably the worst options in the market. There is a glitch in the program where if market orders take more than 20 sec to fill another order gets sent. I need to resolve it but I just don't have the time right now. I have an algorithm for exiting any long option position at a 50% losss or a 150% gain, so perhaps that will get hit (most likely the 50% loss). All around SOLF has cost the program $56k + $71k in realized losses and another $30k in unrealized losses on this new long position it acquired due to the glitch. If it weren't for that stock my program would be up $70k or 7% right now...