So it seems the DAX Straddle trade was hedged out for a small loss (pretty much flat, really).
Sold 3/4 at 7930
Sold 1/4 at 8000
Average Selling Price = 7947.5
Long DAX 7800 Straddles @ 155.9 so this equates to a loss of 155.9 - 147.5 = 8.4 points.
I guess this didn't work out too well as I expected the market to be disappointed (this was my base case) and as a result, I hedged too early.
As for the gold miners trade I have on:
Short 1656 GDX @ $30.19 (Closed today at $30.44 / +0.83%) - P/L of -$414
Short 234 DUST @ $85.47 (Closed today at $80 / -6.40%) - P/L of $1280
Net P/L of $866 (position sized for a $100,000 trading account)
Borrowing costs were 9% and 1% on DUST and GDX respectively which (with just mental calculations) seems like it totals up to ~$50 for the week. The difference in daily changes exemplifies daily decay working in our favor. If DUST did not rebalance daily, we would expect a change of 0.83% * -3 = -2.50% instead of -6.40% (assuming both ETFs track the same underlying index, which may cause some slight deviations).
Note though that this isn't without risk though. When the market moves strongly in one direction without chopping about, expect huge losses and exposures to rack up for this strategy.
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