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TSLA at 196.02
We’re going to roll 215 Call down to 200 strike for additional credit.
Order Ticket Type Asset Duration Strike C/P Buy To Close TSLA 31MAY 19 215 CALL Sell To Open TSLA 31MAY 19 200 CALL Total Credit: 4.50 BA at 352.85
We’re going to sell an OTM call to collect additional credit and cut directional exposure to neutral
Order Ticket Type Asset Duration Strike C/P Sell To Open BA 07JUN 19 375 CALL Total Credit: 1.10 MMM at 166.87
We’re going to roll 175C down to 170 to make this position a straddle.
This adjustment will bring in additional credit and reduce NET delta.
Order Ticket Type Asset Duration Strike C/P Buy To Close MMM 07JUN 19 175 CALL Sell To Open MMM 07JUN 19 170 CALL Total Credit: 1.10 TSLA at 194.38
We’re going to close out this trade and look to re-establish a new position with more time to expiration.
Order Ticket Type Asset Duration Strike C/P Buy To Close TSLA 31MAY 19 200 CALL Buy To Close TSLA 31MAY 19 205 PUT Total Debit: 20.00 SPX at 2830
We’re going to Buy to Close the call spread here as the remaining 0.40 will not come out even IF SPX trades lower.
We’ll look to re-establish another round of Bear Call spread(s) if SPX trades higher.
Order Ticket Type Asset Duration Strike C/P Sell To Close SPX 19JUL 19 3040 CALL Buy To Close SPX 19JUL 19 3030 CALL Total Debit: 0.40 MMM at 161.18
We’re going to roll this STRADDLE down to 165 strikes and out to 19JUL expiration cycle (51DTE)
BTC 07JUN 170 STRADDLE:
Order Ticket Type Asset Duration Strike C/P Buy To Close MMM 07JUN 19 170 CALL Buy To Close MMM 07JUN 19 170 PUT Total Debit: 9.10 SELL TO OPEN 19JUL 165 STRADDLE:
Order Ticket Type Asset Duration Strike C/P Sell To Open MMM 19JUL 19 165 CALL Sell To Open MMM 19JUL 19 165 PUT Total Credit: 11.05 SMH at 98.41
We’re going to Roll 107C down to 102 strike to turn this position into a STRADDLE
Order Ticket Type Asset Duration Strike C/P Buy To Close SMH 21JUN 19 107 CALL Sell To Open SMH 21JUN 19 102 CALL Total Credit: 1.10 SPX at 2772
VIX at 18.50
I’m looking to sell an Iron Condor in 19JUL expiration cycle with 50 days to expiration.
I am looking to sell a Bear Call spread that pays close to 0.90 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:
2550/2540 Bull Put spread
2950/2960 Bear Call spread
Risk Management: I will use OTM options to hedge this Iron Condor when 2950 Call’s delta reaches 20 and 2550 Put’s delta reaches 25.
Price levels for adjustments: 2820 and 2670
Profit Target: 50-80% credit
MAL: -1.5X credit
Order Ticket Type Asset Duration Strike C/P Buy To Open SPX 19JUL 19 2960 Call Sell To Open SPX 19JUL 19 2950 Call Sell To Open SPX 19JUL 19 2550 Put Buy To Open SPX 19JUL 19 2540 Put Total Credit: 2.00 TSLA at 188.60
We’re looking to sell an OTM put with an Implied Probability of Profit around 80%.
TSLA has sold off pretty aggressively in the recent weeks and IV starting to decline.
This is a very short term trade and this position will be sensitive to price changes due to short GAMMA.
We’re looking to make around 50-80% of the credit received OR make adjustments IF/WHEN TSLA trades down to our short strike.
Order Ticket Type Asset Duration Strike C/P Sell To Open TSLA 14JUN 19 170 PUT Total Credit: 3.35 BA at 344.20
We’re going to take this off at 62% of max profit
Order Ticket Type Asset Duration Strike C/P Buy To Close BA 07JUN 19 375 CALL Buy To Close BA 07JUN 19 330 PUT Total Debit: 1.40 – 1.45 SPX at 2737
We’re going to put on a Broken Wing Put butterfly with 53 days until expiration.
This is a positive delta, positive theta trade.
We’re collecting credit to enter this trade and we’re looking to close out this trade with about 80% of the credit received.
We’re going to make adjustments on the downside WHEN/IF SPX trades below upper long put (2600 level).
Order Ticket Type Asset Duration Strike C/P BTO SPX 26JUL 19 2600 PUT STO X2 SPX 26JUL 19 2575 PUT BTO SPX 26JUL 19 2525 PUT Total Credit: 2.60 NFLX at 340.36
We’re going to sell an OTM put with an Implied Probability of Profit around 80%.
This is a very short term trade that has 11 days to expiration.
We’re looking to make 50-80% of the credit received and adjust if our short strike is breached.
Order Ticket Type Asset Duration Strike C/P Sell To Open NFLX 14JUN 19 325 PUT Total Credit: 3.90 NFLX at 351.79
We’re going to take this trade off at 60% of max profit.
Order Ticket Type Asset Duration Strike C/P Buy To Close NFLX 14JUN 19 325 PUT Total Debit: 1.60 TSLA at 191.52
We’re going to sell OTM Call to neutralize this position and bring in additional credit.
This trade has 10 days left until expiration and we want to be out this time next week.
Order Ticket Type Asset Duration Strike C/P Sell To Open TSLA 14JUN 19 215 CALL Total Credit: 1.35 SPX at 2846
We’re going to close this trade at 65% of max profit in 3 days since entry.
Order Ticket Type Asset Duration Strike C/P STC SPX 26JUL 19 2600 PUT BTC X2 SPX 26JUL 19 2575 PUT STC SPX 26JUL 19 2525 PUT Total Debit: 0.85
