8/16:
SPY: -$22,515.00
hedge $3,469.05
Net for this trade:
-$19,045.95 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
————————
-$13,760.94
8/12:
SPY -$30,894.00
hedge $4,149.39
Net for this trade
-$26,744.61 (unrealized)
+$1,223.60 (realized)
+$2,931.69 (realized)
+$1,129.72 (dividend)
————————
-$21,459.60
8/11:
SPY: -$35,397.00
hedge: $4,489.56
Net for this trade
-$30,907.44 (unrealized)
+$1,223.60 (realized)
+$2,931.69 (realized)
+$1,129.72 (dividend)
————————
-$25,622.43
8/10
SPY: -$64,125
hedge: $7,070.16
Net for this trade:
-$57,054.84 (unrealized)
+$1,223.60 (realized)
+$2,931.69 (realized)
+$1,129.72 (dividend)
——————–
-$51,769.83
Pretty much exactly where we were on 8/8.
8/9:
SPY: -$34,542
hedge: $4,618.59
Net for this trade:
-$29,923.41 (unrealized)
+$1,223.60 (realized)
+$2,931.69 (realized)
+$1,129.72 (dividend)
——————–
-$24,638.40
Drawdown from yesterday reduced by over 50%.
If you remember my post on August 5, 2011, I said I was going to buy more SPY if price hit $115.
That just happened
Bought 2,500 shares at $115.
New SPY position: 5,700 shares @ $123.54.
I’m considering the possibility of future positions being purchased in SSO in order to use margin without really using margin.
8/8:
SPY: -$64,296
hedge: $7,304.76
Net for this trade:
-$56991.24(unrealized)
+$1,223.60 (realized)
+$2,931.69 (realized)
+$1,129.72 (dividend)
——————–
-$51,706.23
I really wonder how much lower we’re going to go.
I don’t have enough account equity left to be buying more SPY without using margin if price goes down further, so I think I will use SSO instead.
Patience is key. While everyone is is losing money trying to predict short term direction, I am just waiting.
Does it suck to be down $51k? Yeah. That’s more money than I made in a year at my first corporate job out of college. It sucks when I think to myself “hey, had I not entered this trade, I could go buy a car and still have more money than I do right now.” But it’s about patience. I know SPY will eventually go back up, and when it does, I will make a lot of money.
“Be greedy when others are fearful.” Everyone is freaking out right now. I am loading up.
Next order is if SPY hits 115.
8/5:
SPY: -$32,416
hedge: $3,903.06
Net for this trade:
-$28,512.94 (unrealized)
+$1,223.60 (realized)
+$2,931.69 (realized)
+$1,129.72 (dividend)
——————–
-$23,227.93
Next buy is 2,000 shares at $120.
Sold half the hedge @ $43.95 just now for approximately $2,931 gain. Will post new exact figures at the end of the trading day.
8/4:
SPY: -$31,840
hedge: $3,774.03
Net for this trade:
-$28,065.97 (unrealized)
+$1,223.60 (realized)
+$2,931.69 (realized)
+$1,129.72 (dividend)
——————–
-$22,780.96
Deciding where to put the next SPY buy. Originally I said 120 (and today’s low was $120.06!). I may keep it there. After all, there is no way to predict price so there’s no way of knowing how low price will go.
I may lower it to 115 just to get a better average price. It’s not like I’m in a hurry to close out this trade.
I’m not worried about the drawdown in the meantime. I’m making money on the hedge and dividends if the position stays open long enough.
I’m not using 136 as a target anymore, however, regardless.
Next buy is going to be at $120.
Hammer outta nowhere!
8/3:
SPY: -$12,928
hedge: $2,854.84
Net for this trade:
-$10,073.16 (unrealized)
+$1,223.60 (realized)
+$1,129.72 (dividend)
——————–
-$7,719.84
long 1,400 @ $127 today.
SPY position 3,200 shares @ avg cost of $130.21
Also bought back another 1172 shares of SH (the same amount I just sold a few days ago when I closed half the hedge) @ $42.38 for the hedge.
8/2:
SPY: -$15,104
Hedge: $3,417.64
Net for this trade:
-$11,686.36 (unrealized)
+$1,223.60 (realized)
+$1,129.72 (dividend)
——————–
-$9,333.04