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NFLX at 345.25
We’re selling an OTM put with an Implied Probability of Profit around 82%
Our Profit target is around 50-80% of the credit received and we’ll adjust IF 315 level is breached.
Order Ticket Type Asset Duration Strike C/P Sell To Open NFLX 07JUN 19 315 PUT Total Credit: 4.30 – 4.40 TSLA AT 232.16
We’re going to sell an OTM call to neutralize this position and collect additional credit.
Order Ticket Type Asset Duration Strike C/P Sell To Open TSLA 31MAY 19 257.5 CALL Total Credit: 1.25 SPX at 2848
We’re going to close out the remaining part of this trade.
Order Ticket Type Asset Duration Strike C/P Buy To Close SPX 17MAY 19 2800 PUT Sell To Close SPX 17MAY 19 2790 PUT Total Debit: 1.30 BA at 345.37
We’re going to sell an OTM Call to reduce NET delta and collect an additional premium.
Order Ticket Type Asset Duration Strike C/P Sell To Open BA 24MAY 19 355 CALL Total Credit: 2.65 ADBE at 274.00
We’re going to take this trade off for a scratch
Order Ticket Type Asset Duration Strike C/P Buy To Close ADBE 17MAY 19 270 CALL Buy To Close ADBE 17MAY 19 275 PUT Total Debit: 8.80 NFLX at 354.21
We’re going to take profits @ 65% of the credit received
Order Ticket Type Asset Duration Strike C/P Buy To Close NFLX 07JUN 19 315 PUT Total Debit: 1.50 AMGN at 171.69
We’re going to close this trade to remove the tail risk
Order Ticket Type Asset Duration Strike C/P Buy To Close AMGN 17MAY 19 165 PUT Total Debit: 0.05 – 0.10 SPX at 2886.64
We’re going to exit this trade at 70% of credit collected.
Order Ticket Type Asset Duration Strike C/P STC SPX 14JUN 19 2725 PUT BTC X2 SPX 14JUN 19 2700 PUT STC SPX 14JUN 19 2650 PUT Total Debit: 0.80 – 0.90 BA at 348.02
We’re going to sell an OTM put with an Implied probability of profit around 80%
We’re looking to collect 50-80% of the credit received and make adjustments if BA breaks below 335.
Order Ticket Type Asset Duration Strike C/P Sell To Open BA 07JUN 19 330 PUT Total Credit: 2.75 BA at 354.16
We’re going to roll 340P up to 350 strike, collecting additional credit.
Order Ticket Type Asset Duration Strike C/P Sell To Open SPX 24MAY 19 350 PUT Buy To Close SPX 24MAY 19 340 PUT Total Credit: 2.40 SMH at 169.50
We’re going to roll 190C down to 175, collecting additional credit
Order Ticket Type Asset Duration Strike C/P Buy To Close MMM 07JUN 19 190 CALL Sell To Open MMM 07JUN 19 175 CALL Total Credit: 0.90 – 1.00 TSLA AT 201.55
We’re rolling 257.5 Call down to 215, collecting additional credit.
Our short Put has been breached and we’ll make an adjustment on the downside if TSLA continues lower.
Order Ticket Type Asset Duration Strike C/P Buy To Close TSLA 31MAY 19 257.5 CALL Sell To Open TSLA 31MAY 19 215 CALL Total Credit: 3.60 BA AT 352.90
We’re going to exit this trade for a win
Order Ticket Type Asset Duration Strike C/P Buy To Close BA 24MAY 19 355 CALL Buy To Close BA 24MAY 19 350 PUT Total Debit: 6.75 SMH at 100.94
We’re going to roll 122 Call down to 107 strike, collecting additional credit
Order Ticket Type Asset Duration Strike C/P Buy To Close SMH 21JUN 19 122 CALL Sell To Open SMH 21JUN 19 107 CALL Total Credit: 1.23 SPX at 2863 VIX at 15.04
I’m looking to sell an Iron Condor in 19JUL expiration cycle with 59 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:
2650/2640 Bull Put spread
3030/3040 Bear Call spread
Risk Management: I will use OTM options to hedge this Iron Condor when 3030 Call’s delta reaches 20 and 2650 Put’s delta reaches 25.
Price levels for adjustments: 2910 and 2750
Profit Target: 50-80% credit
MAL: -25% ROR
Order Ticket Type Asset Duration Strike C/P Buy To Open SPX 19JUL 19 3040 Call Sell To Open SPX 19JUL 19 3030 Call Sell To Open SPX 19JUL 19 2650 Put Buy To Open SPX 19JUL 19 2640 Put Total Credit: 1.80
