Results: 146% profit for the week
And 8/9 called correctly; 5 of those with pinpoint accuracy
The competition is officially open for week 5/10. Get in, have your say on our 5 indicators and 4 stocks, and keep pushing for that $1000 prize! The leaderboard is updated within the app, check to see where you’re at.
Last week the BASON once again called 8 out of 9 in the right direction (this time only the bond yields went the other way - down instead of up), and once again we had pinpoint accuracy for the Dow (0.6% error), the S&P (1.2% error), oil (0.5% error), TSLA (1.9%), while the AAPL price prediction was almost perfect (0.02% error!).
As always, in each case the weekly volatility was higher than our margins of error, testifying to the power of the BASON. See the details in the tables below.
Only the meme stocks (GEM and AMC) had lower accuracy (with volatility being huge last week), and this is partially due to them starting to skyrocket on Tuesday just as the predictions were being made. So the expectations were naturally that they will stay up. They didn’t. I’d say we were lucky here to capture the upward swing, but also a bit unlucky as the swing ended abruptly.
Return at 146% for the week!
In terms of collected profits on the trading strategy, this was the best week yet. Last Thursday evening we told you what we bought the day before:
As per these predictions, we once again bought two SPY $455 calls with 05/11 expiry date (using the lower boundary of the C.I. for the strike price), and we used an iron condor for the SPY 05/11, at 460/461 to 469/470 (a slightly narrow margin, where we profit if it ends in this interval). We sold 10 contracts here.
It was close for the iron condor. The S&P500 ended at 4697, but the SPY ended just below our upper interval, at 468.5, allowing us to capture the full $400 from its initial sale. Close, but in the money :)
But where we really made a decent return is with the SPY 455 calls. As the S&P gained 0.8% that Friday morning (the day of the options expiry), rising to 4714 at one point, I decided to hedge our exposure and sold the 2 calls for a total of $3045. This was in case our iron condor expires worthless and we’re faced with a $600 loss. But the S&P went down after that, just enough for the iron condor to reap another reward.
That week, instead of the usual $1000 we invested $1400 for the two calls (they were a bit more expensive), making the total profit from the call strategy $1645. Adding this to the $400 from the iron condor, our weekly profit was $2045, or an average 146% return!
This doubled our weekly winnings, and our total profits for the first 4 weeks stand at $4100. Thank you BASON, and a big thank you to our users who will be reaping those rewards at the end of the competition!
So stick around, participate in our survey competition regularly to get this info before others get it, and try to make some profits from it.
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DISCLAIMER: This prediction survey is still in its testing phase. Neither the survey nor its results act as investment advice of any kind. The results of the survey need not correspond to actual market preferences or trends, so they should be interpreted with caution. Oraclum bears no responsibility for your investment choices based on these predictions.
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