Added more RUT

Sold ten AUG5 14 1125/1120 Bull Put spread for a total initial credit of $16.00.

Opened new RUT trade

With RUT touching the lower BB, I decided to open the following trade:

Sold ten RUT AUG5 14 1130/1125 Bull Put Spread for a total initial credit of $15.00.

Taking the losses on SPX, DIA, NDX, RUT trades from May

I was hoping maybe we could get a little bit more of a sell off, but it doesn't look like it is going to happen. With most of our trades expiring this week, I decided to just take the losses and move on.

SPX Jul 1940/1945 Bear call spread was closed for $2499 loss. This was a 96% loss on our investment.
RUT Jul 14 1170/1180 Bear call spread was closed for $12 loss.  No real % loss on this trade.
NDX Jul 14 3775/3800 Bear call spread was closed for $3086 loss. This was a 98% loss on the trade.
DIA Jul 14 169/170 Bear call spread was closed for $1819 loss. This was a 70% loss on the trade.

Taking into account the profit from the earlier trade this month, this puts the account down $6,682 for the month of July so far.

Closed RUT trade

With the recent sell off in RUT, I was able to close out one of our RUT trades for a profit. Closed the Jul4 14 1200/1210 Bear Call spread which was opened on 6/19/2014 for a $736 profit. This was a 38% return in 28 days.

June Results

Since all of our trades are still open going into July, there were no changes for the month of June.

Opened more trades

The market has been on a relentless rally. Our open trades are all definitely in the red but there is still 25+ days remaining for them to come back.
I have decided to open the below trades as we are again trading up into the upper bollinger bands:

Sold three RUT Jul4 14 1200/1210 Bear Call spread for $10.50 initial credit
Sold two NDX Jul4 14 3850/3875 Bear Call spread for $18.80 initial credit

Opened New Trades

With most of the main indexes rallying the last few days the BB squeeze is playing out and the BB are widening. Holding off from trades the last few days has helped keep us from being way behind right now. The markets may continue to rally over the next couple days but I feel a pullback is due soon and I have opened bear call spreads on all four indexes. Here are the trades:

Sold forty SPY Jul2 14 1940/1945 Bear Call spread for a total initial credit of $14.00
Sold four RUT Jul 14 1170/1180 Bear Call spread for a total initial credit of $13.60
Sold two NDX Jul 14 3775/3800 Bear Call spread for a total initial credit of $18.40
Sold forty DIA Jul 14 169/170 Bear Call spread for a total initial credit of $14.00

Closed NDX trade for profit

With the market again selling off yesterday afternoon I was able to close out the NDX trade for a $515 profit which was a ROI of 32%.

The account is now up $4,356 which is a 35% return for the month of May.

Opened another NDX trade

After the early sell off in the NDX, the market has bounced back up to where we were and I have re-opened the following trade:

Sold five NDX Jun4 14 3695/3700 Bear Call spread for a total initial credit of $9.00.

Closed out of NDX trade

With the sell off in morning in the NDX, our order to close out the trade was processed and we were able to close out the trade for $665 profit and a ROI of 40%.

This puts the account up $3,841 and a 31% profit for the month of May.

Opened new NDX trade

The NDX is up into the upper BB and I have opened the following trade:

Sold five NDX Jun4 2014 3695/3700 Bear Call spread for a total initial credit of $8.50.

I'm a little nervous of the BB squeeze that seems to be going on right now. This will probably be the only trade I will keep open for the next week or so until some sort of bigger move happens. This way I will keep our risk lower in case we have an upward squeeze during the next couple weeks.

Closed RUT trade for profit

With the nice rally today in RUT we were able to close out the trade for a profit of $1,119 and a ROI of 23%.

The account is now up $3,176 for the month of May which is a 26% return for the month.

Opened RUT trade

The RUT index has pierced the lower BB and I have opened the following trade:

Sold seven RUT Jun4 14 1060/1070 Bull Put spread for a total initial credit of $22.10.

Closed DIA, SPX, NDX trades for profit

With the large market sell off today I was already able to close out all three of the open trades for profit.

DIA was $280 profit for a ROI of 14% in 1 day.
SPX was $365 profit for a ROI of 22% in 3 days.
NDX was $614 profit for a ROI of 18% in 3 days.

Total profit for May is now ~ $2,057 and makes the overall account up 17% for the month.

Opened new DIA trade

With the DIA also now into it's upper BB, I have opened the following trade:

Sold thirty DIA Jun4 14 169/170 Bear Call spread for a total initial credit of $9.30.

Opened two new trades

With the nice market rally both the SPX and NDX indexes are trading up into their upper BB's. I have opened the below trades:

Sold five SPX Jul1 14 1930/1935 Bear Call spread for a total $8.50 initial credit.

Sold two NDX Jun4 14 3700/3725 Bear Call spread for a total $15.80 initial credit.

Closed RUT trade for profit

With the rally in the RUT we were able to close the RUT trade close to our 50% target for $4.50 credit. This trade was a profit of $450 and a ROI of 22% in 5 days.

This puts the account currently up $850 for the month of May which would be a 7% gain for the account.

Opened new RUT trade

With the sell off in RUT it is now up against it's lower BB so I have opened the following trade:

Sold three Jun4 14 1070/1060 Bull Put spread for a total initial credit of $9.30.

Closed NDX Trade for profit

With the nice sell off in the NDX, we were able to close the Bear Call spread at our 50% target to keep $4.00 in credit. This trade was a profit of $400 with a ROI of 23% in 5 days.

May 2014 - First trade

Starting Account Value is $12,378.

With the NDX starting to approach the upper BB, I opened the following trade:

Sold one Jun 14 3700/3725 Bear Call spread for $7.80 credit.

Starting again

After a year long break of subscriptions and following other traders, I am back with a modified strategy for selling premium. The newer strategy is to use bollinger bands to identify oversold conditions and to sell premium at those times. I will mainly be trading SPX, NDX, and RUT indexes. Also I will be concentration on managing the winning trades rather than managing my loosing trades. I will look to take profits at 50% of the credit rather than holding the credit spread until expiration.