Happy Monday! As the market dropped around 0.8% this morning, my overall position delta is now positive which means I'm long the market. By market, I'm referring to the SPY which is what I use to beta weight my positions. At the moment, I'm cautious as we're at market highs so I took the opportunity to close a number of positions for a profit to bring my overall delta toward neutral. With that said, I closed out of QCOM, PCLN, SBUX, UAA, and VSAT. I tend to close my position sooner rather than later for smaller profit in this caution environment. I've been wanting to get back into FB and today I added a position in Facebook. Previously, I was delta short oil futures and it dropped about $0.80 today and now I'm delta neutral in oil futures, exactly where I wanted. It is trading up a bit in after hours. I'll look to add long positions in oil future in the coming days. The other position I missed in my cut and paste is XOM which is still a position I've at the moment. As you can see, I don't have a lot of securities and will continue to be light until opportunity present itself or when volatility pick-up. This strategy can continue to make money as the market continue to grind higher but at the same time will help to limit losing positions on the downturn when volatility spike.
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March 2017
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