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ES futures on IRA account

Discussion in 'Options' started by marat, Oct 30, 2014.

  1. marat

    marat Well-Known Member

    I thought I would share my current broken wing fly that I am running on my IRA account that I opened few months ago. I have chosen to work with ES futures, because initial size of the account is too small to use equities options (due to silly 25K rule of pattern trading) and in general I feel that futures give much better returns on margin.
    upload_2014-10-30_7-59-42.png
     
  2. meyer99

    meyer99 Well-Known Member

    And here is a 51 DTE BWB on /ES on a regular account. Will try to close trade between 30 to 15 DTE. Comments welcome, specially adjustments if prices fall below 1925. ES 51d BWB.JPG
     
  3. marat

    marat Well-Known Member

    I got a question offline about futures options margin treatment on my IRA account. I opened mine at IB and as far as I can tell there is no difference compared to the regular account. Currently my initial margin at IB on this trade is $2554.
     
    Last edited: Oct 31, 2014
  4. marat

    marat Well-Known Member

    Looks kind of steep to me to the downside. I prefer mine to be flat and "boring" :mad:
     
  5. tman

    tman Active Member

    Do you have a profit target?
     
  6. marat

    marat Well-Known Member

    Which trade are you referring too?
     
  7. tman

    tman Active Member

    Either one.
     
  8. marat

    marat Well-Known Member

    I'd say between 100-200$ per fly, and not to loose more then twice then that.
     
  9. meyer99

    meyer99 Well-Known Member

    Tman,
    Depends on the market, if it continues to crawl up I will adjust the trade and try to get $1500/2000. If it moves under the tent and stays there for a while I will start taking off pieces, if I am lucky I could net a few shekels. Margin on the trade is now $4000 but it can change fast if prices drop a lot.
     
  10. tman

    tman Active Member

    Will you take this right to expiration if the market stays up here as it looks like your margin goes to zero?
     
  11. tman

    tman Active Member

    Looks like your trade is marking nicely. I'm interested in your adjustments it/when you do so.
     
  12. marat

    marat Well-Known Member

    IB still charges a margin, even though optionvue shows zero. I rarely take things to expiration, so I will likely close it early next week and put something else on.
     
  13. meyer99

    meyer99 Well-Known Member

    Adjustment #1. Margin s/b $5,000. Es BWB adj 1.JPG
     
  14. meyer99

    meyer99 Well-Known Member

    Es BWB adj 2.JPG
    Adjust. #2
     
  15. meyer99

    meyer99 Well-Known Member

    Adj. #3
    Es BWB adj 3.JPG
     
  16. tom

    tom Administrator Staff Member

    Your trade is looking great at this point!
     
  17. meyer99

    meyer99 Well-Known Member

    I hope it stays like that! lol
    I was going to just add more put credit spreads but after listening to D. Harvey I got the itch for some Flys. I will try to lift other areas on the chart depending on how the price moves. What do you think Tom?
     
  18. tom

    tom Administrator Staff Member

    I like the idea of adding flies. You might want to consolidate a few of the strikes so it's easier to manage. Just a suggestion. I learned that from Tony Sizemore and I find it helps me.
     
  19. meyer99

    meyer99 Well-Known Member

    Closed trade today. The Fed took me from under the big tent but did not make it to the smaller tent. Can't complain was a nice trade. Margin is wrong, started at $5000 and went up to $10000 after all the adjustments.

    Es BWB close 4.JPG
     
  20. tom

    tom Administrator Staff Member

    Nice looking trade. Good job!
     

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