Closed: ODAX May 2018 Put Spread

Summary

Yesterday was the unusual case when, right after opening a position, the market makes a sharp movement in my favor. So sharp that I was able to collect 60% of the maximum profit in just one day. Therefore, it did not make sense risking the exposure for one month and a half, only to get the 40% remaining.

DAX 30 on April 6th 2018. Source Investing

Trade Status

After closing the spread, I booked a gain of 81€. With that, the current gain since the beginning of the year is 0,49%. DAX 30 index is down 4,9% in the same period of time.

Type	Name	Open Date	DTE	P/L
Put Spread	ODAX May 2018 10700/10300	4/4/2018	44	81,00€

All the trade details can be found here.

Portfolio

No open position in the portfolio right now. I might reopen the Put Spread if we test again the lows made last week.

See also

• Opened: ODAX May 2018 Put Spread
• 2018 trades (so far)
• 2017 track record

New position: ODAX May 2018 Put Spread

Summary

This morning, with the DAX 30 hitting 11800, I opened a 10700/10300 Put Spread aiming for the May expiration cycle (44 days until expiration).

DAX 30 on April 4th 2018. Source Investing

It does not have much time value compared with other trades and the short delta was smaller than usual (closer to 10 than to the usual 16), but the German index has been breaking some supports and we might be entering a bear market. I did not go for a full Iron Condor as I fear the index tendency for bouncing upwards.