TLT Trade on Jul 23, 2019 12:11 from kerobo0000: Tradervue User Stock Trades.

Rationale:
-vega exposure on overall portfolio was approx ~-130
-/ES was struggling to hold above 3000 (ATHs)
-wanted to hedge off some exposure in case the market sold off; and want to employ a broader hedging strategy where my portfolio vega is partially hedged
-feedback from SPY put trade was to hedge smarter, which lead to entering these Jan 2020 ITM TLT calls (sensitive to volatility but wont drag on portfolio theta too much)

Trade Planning
-structure: long calls
-major support: 130
-major resistance: ~133
-add point: NA
-stop loss (price & PnL): prices fall and hold below 130 (-$150 to -250 loss)
-take profit price / risk-reduction plan: take off half once position increases 30%

IVR=26%
IV/HV=101.3%
Potential ROC= unlimited
Key corporate events (earnings, dividend, investor day, etc.)= NA
How much risk should/did I take? ~1000; appropriate as the goal was to cut portfolio vega exposure in half

Recap:
2019-07-28 11:30:14
-thinking more thru the hedging exercise; hedging should include a combination of TLT and VIX strategies (thinking TLT calls and VIX call spreads)
-have more work to do around understanding VIX and understanding which strikes & duration would be optimal
-need to determine how long to keep on the books and when / how to roll when re-entering

2019-08-01 17:49:01
-new tariffs announced by trump caused vol to soar and market to sell off
-these options soared so i took 1 lot off; looking for pullback to enter into more based on portfolio needs

How could I have traded this better?
-held initial lot longer given negative sentiment, VIX in squeeze and most sell-offs are 3-5 days based on rough observation; however, I scaled out first lot at just under 30% ROC (+27% ROC)

Gain/loss relative to expected gain/loss:
-gain larger than expected; reason why I like entering into at least 2 lots of anything