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NFLX @358.70 We’re going to sell an OTM put with POP around 85% This is a short term trade with only 17 days to expiration. Due to the risky nature of these short term trades, we’re going to keep size very small.
Order Ticket Type Asset Duration Strike C/P Sell To Open NFLX 1MAR 19 330 Put Total Credit: 2.35 Risk Profile:
NOTE: We’re going to aim for 50% of max profit or roll this put IF/WHEN this put is tested.
We’re going to roll up 1430/1480/1530 butterfly up 60 points.
Sell To Close 1430/1480/1530 butterfly
Order Ticket Type Asset Duration Strike C/P STC RUT 15MAR 19 1530 PUT BTC X2 RUT 15MAR 19 1480 PUT STC RUT 15MAR 19 1430 PUT Total Credit: 7.00 Buy To Open 1490/1540/1590 butterfly
Order Ticket Type Asset Duration Strike C/P BTO RUT 15MAR 19 1590 PUT STO X2 RUT 15MAR 19 1540 PUT BTO RUT 15MAR 19 1490 PUT Total Debit: 15.00 Risk Profile:
We’re going to sell a 10 delta Call against 330 Put to convert this into a STRANGLE.
Order Ticket Type Asset Duration Strike C/P Sell To Open NFLX 1MAR 19 385 CALL Total Credit: 1.35 Risk Profile:
RUT at 1564 (+126 points since entry) +8.76% in 31 days, that’s a very strong move in a short period of time.
We’re going to cut NET delta by buying OTM options. Right now, the position’s NET delta is -37. We’re picking up (1) +30 delta call and that will take the NET DELTA from -37 to -7.
Order Ticket Type Asset Duration Strike C/P Buy To Open RUT 22MAR 19 1600 CALL Total Debit: 13.00 Risk Profile:
NOTE: This is a temp adjustment, we’re looking to price reversion back towards the tent.We’re going to SELL TO OPEN 2910/2920 Bear Call Spread, turning this trade back into an Iron Condor
Order Ticket Type Asset Duration Strike C/P Buy To Open SPX 29MAR 19 2920 Call Sell To Open SPX 29MAR 19 2910 Call Total Credit: 0.70 – 0.80 Risk Profile:
We’re going to BUY TO CLOSE 330/385 STRANGLE at 35% of max profit
Order Ticket Type Asset Duration Strike C/P Buy To Close NFLX 01MAR 19 385 CALL Buy To Close NFLX 01MAR 19 330 PUT Total Debit: 2.35 Risk Profile:
We’re going to put a short strangle with 37 days to expiration. We’re selling both, calls and puts around 1 standard deviation (84% POP)
Order Ticket Type Asset Duration Strike C/P Sell To Open SMH 29MAR 19 110 CALL Sell To Open SMH 29MAR 19 95 PUT Total Credit: 1.40 Risk Profile:
NOTE: We’re going to target 50% of credit as our profit and make adjustments if either of the short options turns delta 40.
TSLA @ 307.60 We’re going to enter a very short term short strangle with 10 days to expiration.
We’re selling both, calls and puts, slightly outside of 1 standard deviation.
We’re going to target 50% of max profit as our exit. If either side gets tested, we’ll look to roll out looking to collect additional credit.
Order Ticket Type Asset Duration Strike C/P Sell To Open TSLA 1MAR 19 335 CALL Sell To Open TSLA 1MAR 19 280 PUT Total Credit: 2.35 Risk Profile:
SPX at 2782
VIX at 14.37
I’m looking to sell an Iron Condor in 18APR expiration cycle with 57 days to expiration.
I am looking to sell a Bear Call spread that pays close to .90c credit and a Bull Put spread that pays around .90c as well, for a total credit of 1.80 or higher.
I want to keep my credit fairly balanced between both spreads. For example, I don’t want to see 1.20 credit for one side and .50c for the other.
I want to keep credits as close to .80-.90 per side.
I’m selling: 2590/2580 Bull Put spread 2935/2945 Bear Call spread
Order Ticket Type Asset Duration Strike C/P Buy To Open SPX 18APR 19 2945 Call Sell To Open SPX 18APR 19 2935 Call Sell To Open SPX 18APR 19 2590 Put Buy To Open SPX 18APR 19 2580 Put Total Credit: 1.75 Risk Management: I will use OTM options to hedge this Iron Condor when 2935 Call’s delta reaches 20 and 2590 Put’s delta reaches 25.
Price levels for adjustments: 2825 and 2680 Profit Target: 50-80% credit MAL: -25% ROR
Risk Profile
We are going to push short put higher to 96 strike and leave short call at 110.
We’re looking to collect 1.50 or more and target 50% of credit as a profit target.
We’re selling an OTM Call to create a strangle with 76% POP
Order Ticket Type Asset Duration Strike C/P Sell To Open MSFT 29MAR 19 113 CALL Total Credit: 0.50 – 0.55 We’re going to close out the lowest butterfly, for now, leaving 2 other butterflies on as well as the OTM call hedge.
Order Ticket Type Asset Duration Strike C/P STC RUT 15MAR 19 1550 PUT BTC X2 RUT 15MAR 19 1500 PUT STC RUT 15MAR 19 1450 PUT Total Credit: 5.50 Risk Profile:
We’re going to BUY TO CLOSE 335 Call for 70% of max profit.
We’ll adjust 280 if TSLA continues to trade lower, most likely roll down and out to the following week for additional credit.
Order Ticket Type Asset Duration Strike C/P Buy To Close TSLA 01MAR 19 335 CALL Total Debit: 0.30 We’re going to roll up 1470/1520/1570 put butterfly up 40 points to 1510/1560/1610.
This will leave 2 butterflys around 1540 and 1560 short strikes, and an OTM Call in 22MAR cycle at 1600 strike.
Close out 1470/1520/1570 Put Butterfly
Order Ticket Type Asset Duration Strike C/P STC RUT 15MAR 19 1570 PUT BTC X2 RUT 15MAR 19 1520 PUT STC RUT 15MAR 19 1470 PUT Total Credit: 6.10 Open 1510/1560/1610 Put Butterfly
Order Ticket Type Asset Duration Strike C/P BTO RUT 15MAR 19 1610 PUT STO X2 RUT 15MAR 19 1560 PUT BTO RUT 15MAR 19 1510 PUT Total Debit: 13.90 Risk Profile:
We’re going to roll up 93P up to 101P and collect additional credit. This will reduce risk in the trade and push breakeven a bit further out.
Order Ticket Type Asset Duration Strike C/P Sell To Open SMH 15MAR 19 101 PUT Buy To Close SMH 15MAR 19 93 PUT Total Credit: 0.55 Risk Profile:
