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Week of February 19, 2024 - Weekly Performance by Strategy



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Notes

  • All results above are based on 1 unit position sizes. Each strategy page specifies what constitutes 1 unit.

  • Clients trading more than 1 unit of risk per trade (2x, 3x, etc.) realized the performance published above correspondingly to that amplified magnitude.

  • In many cases, the Risk Budget associated with each strategy represents the minimum starting account size of that strategy.


Summary

NVDA earnings report - a blowout beat with VERY bullish guidance - stole the show this week. With tech (QQQ) languishing early in the week, the the market indexes staged a major rally on Thursday and ended the week up nicely. We did not have a lot of exposure on across the strategies and the only thing that proved to produce some profits in Options Grid with a SPY call skew that we closed on on Friday.


As stated above, broke the breakeven/losing streak with a gain, albeit a modest one being bullish SPY. While we played the expiration for next Tuesday, the move that we were looking for happened on late Thursday and Friday mooring.


Did not have a lot on prior to NVDA and the puts we did have on were hedged out by QQQ calls, then a late week AMD call trade that never really got going so a modest loss on the week all said and done. Ideally trades taken Thursday and into Friday expiration are with profits already captured for the week but the chip stocks were still showing great relative strength post NVDA earnings. One to next week....


Not many trades here this week and a very modest give back in terms of gains on the year.


We are setting a target to produce profits that will enable clients to scale up a unit by the end of May.


Futures Flex

No trades.

Looking Ahead

Another quiet econ week ahead and for whatever reason the jobs report is not until the following week on Friday versus this coming Friday (the 1st).


We will trade what is in front of us and follow the process.









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