Last Friday was Option Expiration day and it is time to review the movements done following our strategy.
IBEX 35 on April 17th 2020. Source Investing |
As I commented last month, the opening of new short positions was forbidden (and it keeps that way) by the CNMV (Spanish market regulator) so I could not perform the usual PUT selling. Instead, in order to keep the same exposure level, I bought a contract of the IBEX 35 future (which is the underlying asset of the PUT option) at 6110 points and sold it last Friday at 6940 points, booking a gain of 822,8€.
Considering all this, since its inception, the strategy is at -24%. During the same period, the IBEX 35 lost -27,9%.
Movements and results so far
I started on August 22nd 2018 selling a 9500 September 2018 Put with the IBEX at 9540. This value will be used as base value from now on. These are the last twelve months (complete records can be found here).
So, considering this twentieth month, this is the comparison between the strategy and the IBEX 35 index:
IBEX 35 Index vs Put Write Strategy |
Regarding May, as mentioned above, the theoretical price of the ATM PUT option would have been 253,50€.
Portfolio
No other position is open right now.
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