Trading Playbook

🎯 Core Strategy

You trade a directional options strategy with a focus on single-leg calls and puts, occasionally forming iron condors. Your approach emphasizes high-probability setups with 30-40 DTE entries and early profit-taking.

Trade Composition

55% Calls - Bullish directional bias
45% Puts - Bearish directional or hedging
~5% Iron Condors - Range-bound neutral strategies

📈 Entry Criteria

Days to Expiration (DTE)

PRIMARY WINDOW: 30-40 DTE

• 58.3% of trades entered with 31-45 DTE
• 30% entered with 22-30 DTE
• Average entry: 33.4 days
• Median entry: 32 days

Position Sizing

1-lot (68.3%) - Standard position size for most trades
2-lot (28.3%) - Higher conviction or lower risk trades
4-lot (3.3%) - Rare, used for very high conviction setups

Preferred Tickers

COST

13 trades (22%)

NVDA

12 trades (20%)

GLD

11 trades (18%)

AMZN

10 trades (17%)

SPY

8 trades (13%)

WMT

5 trades (8%)

🎪 Exit Strategy

Hold Time

TARGET HOLD: 15-20 DAYS

• Average hold time: 18.2 days
• Median hold time: 17 days
• 60% of trades held 8-21 days
• Early profit-taking is common (before expiration)

Profit Targets

Average Win: 697.5% - Extremely high returns on winning trades
Typical Range: 100-500% - Most wins fall in this range
Home Runs: 1000%+ - Occasional massive winners (WMT trades)

Loss Management

Average Loss: -51.1% - Controlled downside
Max Loss: -82.7% - Rare but significant losses
Cut Losses Early - Don't hold losers to expiration

🦅 Iron Condor Strategy

Setup Criteria

4 Legs Required - 2 puts + 2 calls at different strikes
Same Expiration - All legs expire on the same date
14-Day Entry Window - Legs can be opened within 14 days of each other
30-40 DTE - Enter when options have 30-40 days to expiration

Typical Structure

EXAMPLE: SPY IRON CONDOR

• Sell Put: 625 strike
• Sell Call: 710 strike
• Wide wings for high probability
• Collect premium from both sides

🛡️ Risk Management

Key Principles

Small Position Sizes - Mostly 1-2 lot trades to limit risk
Diversification - Trade across 6-7 different tickers
Early Exits - Take profits before expiration (avg 18 days vs 33 DTE)
High Win Rate - 85% success rate indicates good trade selection
Profit Factor 6.54 - Wins are much larger than losses

What Makes a Good Trade

CHECKLIST

✓ Ticker is in your core watchlist (COST, NVDA, GLD, AMZN, SPY, WMT)
✓ Options have 30-40 DTE
✓ Clear directional bias or neutral setup for IC
✓ Plan to hold 15-20 days for profit-taking
✓ Position size appropriate for risk tolerance (1-2 lots)

💡 Key Insights

You're a Swing Trader - Hold trades 2-3 weeks, not day trading or buy-and-hold
Directional Bias - Slight preference for calls (55%) suggests bullish lean
Quality Over Quantity - 60 trades with 85% win rate shows selective approach
Tech & Consumer Focus - NVDA, AMZN, COST, WMT dominate your portfolio
Hedge with GLD - Gold options provide diversification and volatility plays
Early Profit Taking - Exit at ~55% of DTE (18 days held / 33 DTE)
Asymmetric Returns - Average win (697%) >> Average loss (51%)

🚀 Optimization Opportunities

Consider Testing

Tighter Stop Losses - Current max loss is -82.7%, could limit to -50%
More Iron Condors - Only ~5% of trades, could increase for consistent income
Scaling In - Add to winners rather than sizing up at entry
Earnings Plays - Track if trades around earnings perform differently
Technical Levels - Document entry price vs support/resistance