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Week of February 26, 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

Market was rangebound all week, until Friday that is, and the broader market and tech exploded higher. Timing is a funny thing, as we were in good position for this move early in the week and it didn't come in a timely manner for us to capitalize on. Granted, we were able to pare quite a bit of the losses that we were down M2M on the week, with names like AMAT, MU and TSM that we had calls on all coming back nicely.


However, they were down fairly heavily into the close on Thursday and generally when positions come back from being down say 80% and they offer the opportunity to breakeven, you take the risk off with 0DTE.


Gave back last week's small gain on an IWM call skew that never really got going. While price action was decent on the Russell, there wasn't much follow through on the up or the down side.


Was heavier on the call side for sure and the drift lower early and mid-week had things down about 2k at the worst, but Friday's rally got back most of the call premium to near or just above breakeven but the strategy was down about 1 unit for the week overall.


Similar trades as there was in Trade Sphere, except even a few more, but not as far out-of-the-money call trades. Same scenario, was down almost 4 units (4k) a the worst point in the week and Friday's rip to the upside was able to get much of the premium we were down back, but still down just over 1.5 units on the week.


Futures Flex

No trades.

Looking Ahead

ISM on Tuesday and NFP on Friday. That's the story. After Friday's close SMCI was added to the S&P 500 and it ripped a ton after hours. Will likely see this continue on Monday and into next week and now the question is whether or not (or when) they will announce a split. Maybe this comes next week, maybe not, but if and when it does the stock will tack on another 10-20% of gains pretty quickly.









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