Understanding Bruce Marshall’s Trade Alerts
2017-05-22 | Simpler Trading Team
In this post:
- What type of Trader is Bruce Marshall, Simpler Trading Senior Director of Options and Income Trading?
- What is Bruce’s Income Accumulation System?
- What trading alerts do you get with B.I.A.S.?
Type of Trader: Methodical for Steady Income, defined risk every step of the way and profit target oriented.
Bruce is a conservative steady income generator who prides himself on his ability to understand the necessary adjustments to be made in any market conditions and his knowledge of and management skills with the “Greeks”. He couples these skills with the correct options and is able to pull profits from the markets by being patient and waiting for the right set ups to come along.
B.I.A.S. – Bruce’s Income Accumulation System
Bruce is identifying and managing trades on a daily basis while keeping you updated with his thought process, market activity and position adjustments. As a B.I.A.S. member you are getting access to the following features via online and communication resources.
The service includes:
- Portfolio: Online and available for access 24/7 and update each day
- Updates: Daily updates are posted and archived for easy position tracking and trade monitoring
- Alerts: Related to updates, market thoughts and individual trades and are available through…
- Email – Update on any position changes or strategy adjustments in the members area
- App Notifications – Get timely alerts from the Simpler Trading app
- Archive of Bruce’s Simpler Options Live Trading Chat Room Sessions
- B.I.A.S. Breakout Sessions and archive
Understanding the Alerts You’re Receiving
The Alerts are designed to help you quickly understand the execution strategy or adjustments Bruce is putting into action by way of either email or app notification. Part of what makes Bruce so successful in his trading is his ability to be agile in the markets. Position adjustments or fixing broken trades is where Bruce sets himself on the right path for steady income and continuous returns. Opening, Adjustment and Closing Trades are going to be what you will see most of as a BIAS member with the occasional market outlook. These updates are going to be sent out to you after Bruce has finished his analysis and trade research for the morning.
These alerts are more for letting you know there is new content in the member’s area.
The alerts will consist of Opening, Closing, Adjustment, and Commentary updates. Here are a couple of examples of the types of alerts you will become familiar with as a B.I.A.S. subscriber which is dedicated to helping you grow as a trader and build your familiarity with market changes and position agility.
CRM Butterfly – Buy to Open
Commentary: Here we have a fresh Call Butterfly in CRM. Bruce is buying 10 Butterfly positions in the May 19th expiration. His strike prices are 82.5, 87.5 and 92.5, where he is buying the $82.5 CALL, selling the $87.5 CALL and buying the $92.5 CALL. He is looking to get in between $1.60 and $1.75 to open the complete position. Once you have logged into the members area for B.I.A.S you will find that this was trade number 427.
AMGN Vertical Put Credit Spread – Sell to Open (trade adjustment)
Commentary: For this opener, Bruce is not in a particular hurry to enter this trade as time is on his side and he is looking for the right price to enter between $1.30 and $1.40. Here he is selling a vertical PUT spread by selling the$160 PUT and buying the $155 PUT for protection. This is trade number 425 in the position log.
AMGN Vertical Call Credit Spread – Sell to Open (trade adjustment)
Commentary: This trade is a simple example of adding onto a position to adjust market position. With the original AMGN trade in a tight spot Bruce is going ahead and adding a vertical call spread in order to cut down on his deltas. Looking more like an Iron Fly here, he is going to plan for more profit while allowing for more maneuverability as the market moves.
ULTA Diagonal – Buy to Open
Commentary: For this adjustment Bruce is adding on a Diagonal in order to take advantage of being right on this original trade. Number 421. Here Bruce hits his profit target about 2 weeks early and will be adding the Diagonal to take advantage of higher price with elevated strike prices by buying the $320 CALLS for the back month and selling the $315 CALLS for the front month for an overall credit of $0.20. Looking to double the theta with this adjustment.
CRM Butterfly – Sell to Close
Commentary: Straightforward sell to close here on trade 427. Bruce is looking for a pull back and it simply was not playing out quite as planned so here the smart thing to do is to take the trade off the table. “I think it makes sense just to close it here. In the trading world, when we can get a good shot at a trade and if the trade doesn’t work, you only lose $100 – $200, that is still a pretty good trade set up to me.” – Bruce
RUT Butterfly – Sell to Close
Commentary: Coming to end, the RUT trade is closed out for a profit by selling the $1300 calls, buying back the $1380 calls, and selling the $1460 calls all in one order. Trade number 428 was a monthly CALL Butterfly where Bruce bought into it for a debit of $31.90, found himself in the green at $33.90 and left it up to each of you traders out there to manage the winner at your own discretion but went ahead and locked in on his profits seeing the move near extension.
AMGN – Commentary
Commentary: Here is a look at an afternoon confirmation update. There will be times when the trades are in a tight spot going into the close and here is where Bruce will step in and reassure or update you on what he is seeing heading into the next trading session and letting you know his expectations for what is to come.
Commentary: A quick update on the day’s trading session tossing an idea out for a possible approach going into the next day’s trading session.
Putting It All Together
These are the types of alerts you can expect from the service to help you grown and develop your skills alongside the work of a veteran fund manager with over 20 years of industry success under his belt. Beyond B.I.A.S. you may be receiving alerts from one or more of our other services which are all designed to keep you up to speed on market changes and give you the ability to stay on top of your positions just like Bruce. By referencing the Alerts and the Members area for Updates and Write-ups on trades you should be well in the know as to how Bruce is managing his positions and using his strategies to remain ahead of the markets.
Still have questions?
Remember to always stay up to date with the trade log in the member’s area of the B.I.A.S. page. It is helpful to reference the day’s trading updates and the trade log to insure a full understanding of positions and changes made to any trades. Bruce does an amazing job of writing these updates and getting the ideas written out each morning along with his end of the week video to keep you as current as possible on all of his B.I.A.S. trades.
Bruce like all of our traders, insures he is managing his risk and taking trades that are appropriate for his account size and expectations for the trade are developed with his trading plan. Please always insure you are using the trading plan you have developed and continue to follow procedures for trades which you have defined and are comfortable making with your account size and risk tolerance when choosing to make use out of the sent alerts.