Wave Chasing

So, after a lot of thought, I’m implementing a new strategy. There is so much volatility these days that it doesn’t make sense to not play both sides of the game. I will be buying both puts & calls on the S&P, 3 months out so each side has some time to percolate. Started today, and frankly, didn’t expect that the call would hit the target the same day – but I can’t be upset at the end of day pop.

The only remaining question is at what intervals I will be doing this – weekly? Every other week? Once a month?

Closed:
Puts on BBBY (GTrades), +21%, held overnight
Calls on SPY, +17%, in/out

Opened:
Puts on SPY (Jan ‘09)

Month to Date:
My ports: -27.08%
Brokerage: -24.56%
BBE Overall: -26.26%
S&P -22.14%
% of Trading Targets reached: -804.17%
I’m screwed ratio: 48.4 to 2.8