domingo, 5 de mayo de 2019

Options Strategy Monthly Analysis May 2019

A year to forget so far. SPX and Russell have been non stop raising giving us no oversold condition to enter a Put Spread



Russell 2000 did on March but we didnt take the wave.



SPX didnt get to oversold condition over 2019 so far. we went close twice, but again we didnt take the opportunity


$VIX looks can even get more lower, so nothing to do in the markets, just wait and wait to the right moment.


domingo, 3 de marzo de 2019

Options Strategy Monthly Analysis March 2019

Just to months of 2019 and SPX up +11.84 YTD and RUT +17.88%. Markets have to given us any oversold condition to open new Put Spreads. Market can go up another 10% more, but we would not enter neew positions until we get an oversold on momentum indicators

So no activity over February


SPX Chart


$VIX


sábado, 2 de febrero de 2019

Options Strategy Monthly Analysis February 2019

After the storm a relentless rise on the US Markets. SPX +7.97% and Russell +11.38% have signed one of the best start of the year ever. Can these last for ever? who knows but we should expect ups and downs over the year. For these reason we should enter new Put Spreads once the oversold indicators tell us so. We wont enter Call Spreads as the market can go up and up with no force to defend them.

January gave as full Premium on de Spreads opened in December while defending the postion then.



 No open positions right now, and we will wait for a corretion to open new positions:



VIX is folling, marjets raising forming a V formation. We could agree we are in an overbought momentum, but will wait and wait and wait for an oversold situation to deploy new Put Spreads




martes, 1 de enero de 2019

2018 Bellini Portfolio Analysis

Evrything was going smoothly and following a good plan till December crash started. Think we played conservatively along the year, and that should be the strategy for 2019. Barely any Call Spreads were deployed and all the position were open on Put Spreads when a spike on the VIX occured and an oversold on momentum indicators.


A return +2.81 for the year is good compared to the SPX, but would have been near double digit if the sold-off would happened. The management of the Dec31 2370/80 was poor, if only I would stop out earlier when it got to 30 deltas! , but with such few days till expiration didnt want to materialise the looses. bad decision as I finally did, a day before it soared.



Markets have reacted to the exuberances of last bull years, too abruptly tho. Think we have approached a short term support on the 200 EMA weekly and long term trendline. Lets see where the markets go from here