Alpha book up 5.22% on a strong theta week
Today, I share a glimpse into my weekly Alpha Gen book. It was a strong week.
Alpha Gen was up 5.22%, driven almost entirely by the Theta strategy.
Here's the breakdown.
Delta: +1.52%
Brazil positions recovered on the week. SOFR positions also bounced. China still struggling to get off the mat, but the drag was contained.
Nothing exotic. Just letting the recovery in existing positions do the work.
Theta: +3.84% (main driver)
Two structures did the heavy lifting.
Tuesday's 0-DTE iron fly with tight strikes 25 points apart. Leaned on the 7,400 long-strike concentration. The setup was there, the pin held for a couple of hours, and the trade paid. Full TRACE shared in Discord for community members watching the trade unfold in real time.
The SPX Flyagonal. Managed actively as the market moved. Dumped the call fly to neutralise the delta once the tape shifted. Then converted the remaining put calendar into a one-week iron condor when IV spiked and the term structure inverted. The condor is +$400 so far and will likely run into early next week.
Vega: -0.14%
Two new positions added.
A forward vol trade on TLT. Selling July strangles to finance larger August OTM strangles. Chipping in gradually ahead of the end-July Fed meeting.
VXX puts for July 2nd expiry. Playing potential vol crush into the July 4th long weekend when the seasonal window historically favours the sellers.
Both trades small, sized for asymmetry, and positioned around specific catalysts.
The P&L is the outcome. The value for community members is watching how the decisions get made. Every trade in this book is shared inside the Discord community in trade recaps or daily videos. Every conversion, every hedge roll, every framework call, walked through as it unfolds. The masterclass is where the framework that produces those trades gets taught. That's where it starts.
P.S. Every trade in the Alpha book is shared with the community end of the day. The framework that produces the trades is the same one taught in the masterclass. One leads to the other.
Imran
Disclaimer (Your Gains & Losses, Your Responsibility): This content from Options Insight LLC (“Options Insight”) is for educational purposes only and does not provide individual investment advice or recommendations, nor should it be considered an offer to buy or sell any security. All information is general and not tailored to your specific objectives, financial situation, or risk tolerance. Employees of Options Insight may hold positions in the assets discussed. While we use sources believed to be reliable, we are not responsible for errors, omissions, or losses resulting from reliance on this content. Always consult a licensed investment professional.
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