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SPX at 4075
This trade is going to expire with all options OTM. We’re going to walk away with a small profit here
so you rolled your short put spread up 50.00? You didn’t want to close your Debit Spread?
VZ at 37.81
This trade has 14 days until expiration. I’m going to roll the long 40 put down to 37.5 strike, taking out 65% of risk.
Risk Profile:
Order Ticket:
SOLD -1 VERTICAL RUT 100 16 DEC 22 [AM] 1775/1770 PUT @.45 CBOE
Bringing more credit in and increasing deltas a bit.
TTD at 54.36
I’m going to convert this butterfly into a call calendar with 14 days left on the front month contract.
Video:
Risk Profile:
Order Ticket:
SPX at 3979
This is a new weekly 112 Bear Trap:
Risk Profile:
Order Ticket:
V at 209.61
The chart is showing a change in trend with MACD turning bearish. Looking for a move towards 190 over the next month.
Chart:
Risk Profile:
Order Ticket:
Current risk profile:
I’m reducing deltas a bit to stay more neutral.
Order:
New risk profile:
VZ at 36.68
With 10 days until expiration, I’m going to make one more adjustment to remove all of the risk out of the trade.
Risk Profile:
Order Ticket:
CAT at 227.89
With 10 days to go, I’m looking for a way to pull as much risk OUT as possible, let’s have a look:
Risk Profile:
Order Ticket:
V at 206.16
We’re slightly ahead in this trade and this is a good time to sell a put with shorter duration to reduce the cost of the long put.
If the move down accelerates, we can always look to add negative delta, but if we pause and chop, the short option is going to turn option decay in our favor.
Risk Profile:
Order Ticket:
Trade adjustment:
This was the simplest adjustment to make and eliminate any risk on the upside
SPX at 4052
I’m going to set up a new 112 Bear Trap with 52DTE
Buying 3980/3950 Put Debit spread
Selling 2x 3400 PutNET credit for this trade 9.50
I will defend this trade IF/WHEN SPX goes inside the PDS = 3950 or lower
Risk Profile:
Order Ticket:
