March Trading Results

Time again for my latest portfolio results, this time for the March expiration month. As always, I will break down the sources of my portfolio results so that you can keep track of how each strategy is doing. Beyond the actual numbers, this report is meant to give you an over-the-shoulder look into my trading and the lessons I’ve learned.


For several reasons:

1. To keep me headed in the right direction. Sure, I could keep this all to myself but sharing this information publicly helps to hold me accountable and continue to try and outdo myself.

2. I want to be honest and transparent. If anyone talks about making money trading options, I think that’s really the only way it should be. Wins, losses, successes and failures – the whole deal.

3. I know it inspires a lot of people to take action.

You can access previous portfolio results via the links below:

February 2012

Important Events in March


During March I continued to trade very conservatively as I did not see a huge amount of opportunity for my main strategies with volatility so low. Having been guilty of overtrading last year, averaging around 13 trades per month, I slowed down to 9 trades in February and 7 in March. I have still not been using much of my total capital, but will be looking to ramp that up once we see a spike in volatility.During March expiration, the S&P 500 moved up from 1361 to 1404 for a return of +3.15%.As stated above, my March trading was very low key. The two noteworthy trades were two Bear Call Spreads on AAPL. Yes, I know it’s sounds crazy, I did bet against AAPL rising…….. BUT, both trades were winners due to very good entry points and risk management. On Feb 28th with AAPL around $532 I entered a 580-585 March 17th Bear Call Spread. I was probably a day or two early on the entry as AAPL subsequently rose to $548. Still, AAPL was due for some profit taking and that came on March 5th and 6th when it dropped from $548 to $516. I exited the trade on March 13th for a 2.74% return when AAPL had recovered to $560. I should have exited slightly earlier and picked up a few extra percentage points, but it was still a winner.I then re-entered another APPL March 17th 610-615 Bear Call Spread on March 14th when AAPL was at $582. This was a slightly riskier trade given there were only 2.5 days to expiry and AAPL was roaring to new highs. I just felt that $600 would be a natural level for some profit taking and this was an opportunity to pick up a quick +6.38% return in only a few days. The position moved against me on the 15th but I actually added to it as I felt strongly about it and sure enough, the high of the day was $600.01 proving that sellers did come in at the psychologically significant level of $600. I feel like this was one of my better trades recently as I read the market action very well, and made a very nice return in a short period of time. I’m just disappointed I didn’t add more to my position of the 15th, but it was a risky trade and I was betting against the most popular company in the universe so I think my risk management was solid.AAPLOverall, I stuck to my trading rules very well this month so that was a positive. I’m finding it really difficult sitting on the sidelines at the moment, but I feel I need to be patient and wait till the market provides me with another high probability set up. I only have 1 main trade on currently which is a standard RUT Iron Condor for April, but my position size is very small. In fact my current margin requirements are only 6K on a 140K account. I really am a wimp sometimes, but at least I know I won’t be going broke anytime soon.

Portfolio Results

Iron Condors and Credit Spreads were again the standout performer returning a gain of +$2,219.22 the rest of my trading was pretty light as mentioned above.

Trading Results

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Here’s to your ultimate success!

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Leave A Reply (2 comments So Far)

  1. Ken
    3 years ago

    Nice trading. Keep up the good work.


    • Gav McMaster
      3 years ago

      Thanks Ken. How has you trading been the last few months?

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