After doubling up the first Papermoney account from $100,000 to just a bit over $211,000 in a little under three years (May 2006 -> Feb 2009), I figured it was time to start this all over. I’m going to leverage many different strategies in this account, and will try to keep a simple to follow log of the trades here on the portfolio summary page.
Trade Summary (For Educational Purposes Only) –
Disclaimer – All trades simulated - Account Re-Opened Oct 12 2009 with $100,000 initial balance. I neglected the account for a period of time in an attempt to try something that I didn’t enjoy doing. Needless to say it was not horribly profitable. After getting flat again, the account was down to $91,611.73.
Trade Type Activity Date Amount Charges Notes
Opening Balance BAL Account Reset 10/12/09 100,000.00 After doubling up the first portfolio, I felt it was time to do it again. This time I am modeling a little more of a money management style.
Back to Condors BAL 4/1/10 91,611.73 I greatly dislike managing single Equity positions. I'm back to Condors and Index products. Keeping tab on positions on a daily basis just isn't my style.
IWM - May 10 Sell Open SOLD -50 IRON CONDOR IWM 100 MAY 10 73/75/63/61 CALL/PUT @.50 4/1/10 2,500 -309.95 Single stddev Condor. A little riskier than what I'm used too, with Iron Condors. However, these appear to be quite profitable based on my analysis of similar trades over time.
IWM - May 10 Sell Open SOLD -25 IRON CONDOR IWM 100 MAY 10 73/75/63/61 CALL/PUT @.55 4/6/10 1,375 -159.95 Filled for a full allocation on the IWM position. This time I was able to fill for a more favorable price.
IMW - May 10 Buy Open BOT 50 IWM 100 MAY 10 59 PUT @ .59 5/7/10 -2,950 -84.95 Hedge against downside risk.
SPY - May 10 Sell Open SOLD -50 IRON CONDOR SPY 100 MAY 10 124/126/110/112 CALL/PUT @.50 4/12/10 2,500 -309.95 My SPY Condor order did finally fill. This position should work out nicely as the wings are spread fairly wide for the month.
SPY - May 10 Buy Open BOT 25 SPY 100 MAY 10 108 PUT @ 1.90 5/7/10 -4,750 -47.45 Oversided hedge on the SPY position. I think this one was a bit over done and I'll be closing this down quickly!
Current Balance BAL Current Cash Balance - 97,203.69
How to read the table
If you’re wondering how on earth to read that crazy table above, here is a quick graphic that shows how to read this thing: