Live: Tuesday, Aug. 27, 2019

12:55 p.m. New York time

Some housekeeping notes (not quite up to Marie Kondo’s standards).

I have one options position remaining using the monthlys expiring September 20: XLY. It was entered into relatively late in cycle, with nine days remaining until the manage winners day, 21 days prior to the options’ expiration. Normally I aim for 20-23 days before manage winners day.

XLY is not showing a profit. My goal is to exit at 50% of maximum potential profit. On manage winners day, I’ll exit XLY if it is profitable to any degree. If it is not profitable, then I keep the position, but the rules for it change to the sudden death rule set: If it shows a profit to any degree, I exit, and if the underlying share price moves beyond the profit zone, then I exit if the time required for return to the zone is greater than one day, as measured by the Rate of Change metric.

I’ll start populating my accounts with short iron condors built from options expiring October 18 when we reach 45 days prior to expiration, which is September 3, a week from today.

See my options trading rules here.

By Tim Bovee, Portland, Oregon, August 27, 2019


Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.

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