Closing Liquidation Value: $917,800.01
Only one week left, hopefully the trend of the past week can continue...
Friday, February 27, 2009
Thursday, February 26, 2009
IB Olympiad 2009 Day Thirty
Closing Liquidation Value: $847,849.63
Well, today would have been a good day for the program's portfolio with oil rallying and the market dropping. However, yesterday something went wrong and the program got carried away selling naked STI 12.5 calls. It sold 700 of them, naked!! STI was up 20% today and the program is down 100k$ on that one position. It sucks but that's life. The program did not run today because I was busy using my laptop for other things around campus.
Well, today would have been a good day for the program's portfolio with oil rallying and the market dropping. However, yesterday something went wrong and the program got carried away selling naked STI 12.5 calls. It sold 700 of them, naked!! STI was up 20% today and the program is down 100k$ on that one position. It sucks but that's life. The program did not run today because I was busy using my laptop for other things around campus.
Wednesday, February 25, 2009
Tuesday, February 24, 2009
IB Olympiad Day Twenty Eight
Closing Liquidation Value: $918,915.53
Well, the account had plenty of cash after all the February options expired last week. It also had recovered some of the losses in naked bank stocks that it had been put. So I ran the program today and it did surprisingly well. The program made money on an SSO daytrade, also on a DXO purchase and it sold a boat load of naked calls on many surging stocks this afternoon including WFC, HIG, COF, GNK, LNC and STI. At this point I would say the program definately has a bearish position aside from a few stock positions which I had been put (PNC and PRU), and oil of course. Lets see how that plays out in the remaining days of this year's competition.
Well, the account had plenty of cash after all the February options expired last week. It also had recovered some of the losses in naked bank stocks that it had been put. So I ran the program today and it did surprisingly well. The program made money on an SSO daytrade, also on a DXO purchase and it sold a boat load of naked calls on many surging stocks this afternoon including WFC, HIG, COF, GNK, LNC and STI. At this point I would say the program definately has a bearish position aside from a few stock positions which I had been put (PNC and PRU), and oil of course. Lets see how that plays out in the remaining days of this year's competition.
Monday, February 23, 2009
IB Olympiad Day Twenty Seven + Rankings
Closing Liquidation Value: $722,471.82
Some big profits last week I see, nice call on the February puts guys!
Some big profits last week I see, nice call on the February puts guys!
Friday, February 20, 2009
IB Olympiad Day Twenty Six
Closing Liquidation Value: $755,217.31
Yikes, if only it had bet the other way! Exploding puts are a sight to behold.
Yikes, if only it had bet the other way! Exploding puts are a sight to behold.
Thursday, February 19, 2009
IB Olympiad 2009 Day Twenty Five
Closing Liquidation Value: $800,933.96
The program hasn't run for over a week now and the existing positions are getting crushed. If I had been running it some of the exploding positions would have gotten stopped out. Things are looking very bad for DT2009 unless there is a huge rally tomorrow. In fact, the market looks to me like we are about to see a quick 20% drop.
The program hasn't run for over a week now and the existing positions are getting crushed. If I had been running it some of the exploding positions would have gotten stopped out. Things are looking very bad for DT2009 unless there is a huge rally tomorrow. In fact, the market looks to me like we are about to see a quick 20% drop.
Wednesday, February 18, 2009
IB Olympiad 2009 Day Twenty Five
Closing Liquidation Value: $886,316.56 -$5,973.05 (-0.7%)
Not bad considering the DXO crash.
Not bad considering the DXO crash.
Tuesday, February 17, 2009
IB Olympiad Day Twenty Four + Rankings
Closing Liquidation Value: $892,289.61 -$132,902.90 (-13%)
Yeah, today was a horrible day for an oil buying, option writing strategy. Volatility exploded and oil crashed to new multi-year lows. This is something I was very worried about when developing my strategy because I expected the recent rally to only last a few months. I had hoped it would last the duration of the competition but that's why they call it the slope of hope. Stocks are headed lower along with the commodities so I don't expect my program to recover. My program might not have taken such a large hit today if it had been running and able to exit positions, but I was busy and it didn't run at all today. Oh well, I'll continue to post the progress but unless there is a major reversal in stocks by the end of the week, DT2009 will likely end up in the red for this year's competition.
On a surprising note, most of the top ten competitors lost significantly last week. If they lost last week, they prob got killed today too.
Yeah, today was a horrible day for an oil buying, option writing strategy. Volatility exploded and oil crashed to new multi-year lows. This is something I was very worried about when developing my strategy because I expected the recent rally to only last a few months. I had hoped it would last the duration of the competition but that's why they call it the slope of hope. Stocks are headed lower along with the commodities so I don't expect my program to recover. My program might not have taken such a large hit today if it had been running and able to exit positions, but I was busy and it didn't run at all today. Oh well, I'll continue to post the progress but unless there is a major reversal in stocks by the end of the week, DT2009 will likely end up in the red for this year's competition.
On a surprising note, most of the top ten competitors lost significantly last week. If they lost last week, they prob got killed today too.
Saturday, February 14, 2009
Friday, February 13, 2009
Thursday, February 12, 2009
Wednesday, February 11, 2009
IB Olympiad Day Twenty Two
Closing Liquidation Value: $1,007,761.45 +$9,428.51 (+.9%)
Running in place...
Running in place...
Tuesday, February 10, 2009
IB Olympiad 2009 Day Twenty One
Closing Liquidation Value: $998,332.94 -$57,278.7 (-5.4%)
Almost all of this can be attributed to an explosion in a naked PFG put position.
Almost all of this can be attributed to an explosion in a naked PFG put position.
Monday, February 9, 2009
IB Olympiad 2009 Day Twenty + Rankings
Closing Liquidation Value: $1,055,611.59 +$25,402.87 (+2.5%)
Good news, 10th place and first place made essentially no progress in the past week. Hell yeah for the rest of us! Those top ranked people better turn their programs back on cause DT2009 has them in the cross hairs!!
Good news, 10th place and first place made essentially no progress in the past week. Hell yeah for the rest of us! Those top ranked people better turn their programs back on cause DT2009 has them in the cross hairs!!
Sunday, February 8, 2009
Friday, February 6, 2009
IB Olympiad Day Nineteen *Halfway Point*
Closing Liquidation Value: $1,030,208.72 + $18,008.3 (+1.8%)
Up four days in a row, hopefully this trend continues. Obviously I'm not happy with only a 3% gain at the halfway point in the competition, but I can't complain. That's an annualized 43% gain after all. Naked calls on STT was the only sore spot for today but I'm not too worried about that position. The robot actually alerted me to this stock which I think is a great short here. How is everyone else doing? I know you guys (and gals) are reading =).
Up four days in a row, hopefully this trend continues. Obviously I'm not happy with only a 3% gain at the halfway point in the competition, but I can't complain. That's an annualized 43% gain after all. Naked calls on STT was the only sore spot for today but I'm not too worried about that position. The robot actually alerted me to this stock which I think is a great short here. How is everyone else doing? I know you guys (and gals) are reading =).
Thursday, February 5, 2009
IB Olympiad 2009 Day Eighteen + Portfolio
Closing Liquidation Value: $1,012,200.38 +$7,493.67 (+.8%)
Wednesday, February 4, 2009
Tuesday, February 3, 2009
IB Olympiad 2009 Day Sixteen
Closing Liquidation Value: $988,095.47 +$23,880.7 (+2.5%)
Today was alright, the program did not get any help from oil but it did get a nice boost from naked DRYS puts it sold yesterday. It seems I am destined to waver about break even for the first half of this competition as the same thing happened the past two years. Hopefully, DT2009 will break out and make new highs as we approach the end of the Olympiad this year like it did in '07 and '08. We'll see, wish me luck!
Today was alright, the program did not get any help from oil but it did get a nice boost from naked DRYS puts it sold yesterday. It seems I am destined to waver about break even for the first half of this competition as the same thing happened the past two years. Hopefully, DT2009 will break out and make new highs as we approach the end of the Olympiad this year like it did in '07 and '08. We'll see, wish me luck!
Monday, February 2, 2009
IB Olympiad 2009 Day Fifthteen + Rankings
Closing Liquidation Value: $964,214.80 -$18,594.16 (-1.9%)
Things are not looking so good for DT2009 as oil takes another hit and volatility jumps. The program only ran briefly today and the only trade was to sell some DXO in order to raise cash. It seems as though the program is once again too leveraged bullish (sold too many naked puts) since unfortunately some naked call positions in banks were stopped out late last week. Its starting to look like getting in the top ten will be very unlikely for me. What I really need is a flat market and a surge in oil. The rankings as of the end of the third week are below, I noticed Ahmed Taha made a good call by turning off his program in distant first place.
Things are not looking so good for DT2009 as oil takes another hit and volatility jumps. The program only ran briefly today and the only trade was to sell some DXO in order to raise cash. It seems as though the program is once again too leveraged bullish (sold too many naked puts) since unfortunately some naked call positions in banks were stopped out late last week. Its starting to look like getting in the top ten will be very unlikely for me. What I really need is a flat market and a surge in oil. The rankings as of the end of the third week are below, I noticed Ahmed Taha made a good call by turning off his program in distant first place.
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