Trading Activities (Tables)

12 Months Ended

Dec. 31, 2021

Brokers And Dealers [Abstract]

Summary of Valuation of Partnership's Investments

The following tables summarize the valuation of the Partnership’s investments as of December 31, 2021 and 2020:

Gross Amounts not Offset in the Statements of Financial Condition

December 31, 2021

Gross Amounts Recognized

Gross Amounts Offset in the Statements of Financial condition

Amounts Presented in the Statements of Financial condition

Financial Instruments

Cash Collateral

Net Amount

Assets

Options purchased

$

—

$

—

$

—

$

—

$

—

$

—

Total assets

—

—

—

—

—

—

Liabilities

Written options

$

—

$

—

$

—

$

—

$

—

$

—

Total liabilities

—

—

—

—

—

—

Net fair value

$

—

									Gross Amounts not Offset in the Statements of Financial Condition
December 31, 2020	Gross Amounts Recognized			Gross Amounts Offset in the Statements of Financial Condition		Amounts Presented in the Statements of Financial Condition			Financial Instruments			Cash Collateral		Net Amount
Assets
Options purchased	$	129,600		$	—	$	129,600		$	(145,175	)	$	—	$	(15,575	)
Total assets		129,600			—		129,600			(145,175	)		—		(15,575	)
Liabilities
Written options	$	(145,175	)	$	—	$	(145,175	)	$	145,175		$	—	$	—
Total liabilities		(145,175	)		—		(145,175	)		145,175			—		—
Net fair value														$	(15,575	)

Gross Fair Values of Derivative Instruments of Option Contracts as Separate Assets and Liabilities

The following table indicates the gross fair values of derivative instruments of option contracts as separate assets and liabilities as of December 31, 2021 and 2020:

	2021		2020
Assets
Options Purchased
Indices	$	—	$	129,600
Total options purchased	$	—	$	129,600	*

 * This amount is included in “Options purchased, at fair value” on the Statements of Financial Condition.

	2021			2020
Liabilities
Written Options
Indices	$	—		$	(145,175	)
Total written options	$	—	**	$	(145,175	)	**

** This amount is included in “Written options, at fair value” on the Statements of Financial Condition.

Trading Gains and Losses, by Market Sector, on Derivative Instruments

The following table indicates the trading gains and losses, by market sector, on derivative instruments for the years ended December 31, 2021, 2020 and 2019:

Sector - Indices	2021			2020			2019
Net realized gains (losses) on closed contracts	$	1,822,707		$	1,445,017		$	1,945,724
Change in net unrealized gains (losses) on open contracts		2,089			12,760			(14,848	)
Total trading results	$	1,824,796	***	$	1,457,777	***	$	1,930,876		***

*** This amount is included in “Total trading results” on the Statements of Income and Expenses.

Summary of Transactions in Options Written

The following table rolls forward the transactions in Options Written for the year ended December 31, 2021:

	Calls									Puts
				Notional (000)									Notional (000)
	Contracts			USD			Premiums Received			Contracts			USD			Premiums Received
Outstanding options,    beginning of year		—		$	—		$	—			226		$	193,225		$	211,888
Options written		5,460			6,124,786			668,366			50,798			52,808,695			15,136,942
Options exercised		(90	)		(96,618	)		(217,500	)		(529	)		(554,534	)		(533,706	)
Options expired		(4,800	)		(5,385,760	)		(365,629	)		(42,566	)		(44,316,571	)		(11,398,804	)
Options closed		(570	)		(642,408	)		(85,237	)		(7,929	)		(8,130,815	)		(3,416,320	)
Outstanding options,    end of period		-		$	-		$	-			-		$	-		$	-