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MMM at 172.05
We’re going to add a STRADDLE at 175 strike in the same expiration cycle
Order Ticket Type Asset Duration Strike C/P Sell To Open MMM 19JUL 19 175 CALL Sell To Open MMM 19JUL 19 175 PUT Total Credit: 9.00 RUT at 1549
We’re going to scale in Tier 2 of this trade.
We’re placing a put butterfly 20 points above Tier 1 butterfly and keeping the same distance of the wings, 50 points on the downside and 40 points on the upside.
Next Tier scale is WHEN RUT trades above 1560
Order Ticket Type Asset Duration Strike C/P BTO RUT 16AUG 19 1560 PUT STO X2 RUT 16AUG 19 1520 PUT BTO RUT 16AUG 19 1470 PUT Total Debit: 2.70 TSLA at 225.50
We’re going to put on a short term Bullish trade with 16 days to expiration.
We’re selling an OTM put with an implied POP around 80%
We’re looking to make about 50-80% of the credit received and we’ll defend this position when TSLA trades down to 200 level.
Order Ticket Type Asset Duration Strike C/P Sell To Open TSLA 05JUL 19 200 PUT Total Credit: 3.60 SMH at 109.27
We’re going to ADD a SHORT STRADDLE at 110 strikes (same size as 105 straddles)
Order Ticket Type Asset Duration Strike C/P Sell To Open SMH 12JUL 19 110 CALL Sell To Open SMH 12JUL 19 110 PUT Total Credit: 5.35 RUT at 1520
We’re going to put on a slightly OTM Put butterfly.
This trade is going to be scaled in 3 tranches.
This first tranche is going to be 20 points below the current price and the width of the wings is going to be 60 points on the downside and 50 points on the upside.
Order Ticket Type Asset Duration Strike C/P BTO RUT 30AUG 19 1550 PUT STO X2 RUT 30AUG 19 1500 PUT BTO RUT 30AUG 19 1440 PUT Total Debit: 5.10
Next tier will be added WHEN RUT trades 40 points above the short strike of the first butterfly.
On the downside, we’ll make adjustments WHEN RUT trades below 1460.
RUT AT 1563
We’re going to ROLL 1560 Put down to 1540 strike, collecting credit and eliminating all of the upside risks.
The 1560/1540 Put spread is going for 7.30 credit, this will add 1270 of BP reduction to the trade
The reason for this adjustment is because RUT is moving quite fast and it looks like a run to 1600 is on deck
If that’s the case, we can look at pinching the tent a little and lifting upside to hit a targeted 15%ROR
REMEMBER, THE RISK IN THIS TRADE REMAINS A BIG FAST MOVE LOWER
Order Ticket Type Asset Duration Strike C/P Sell To Close RUT 16AUG 19 1560 PUT Buy To Open RUT 16AUG 19 1540 PUT Total Credit: 7.20 RUT at 1565
RUT made a big push through 1540 and now at 1565.
This went over our Tier 2 and Tier 3 triggers.
We’re going to skip T2 and add T3 Put butterfly. T3 butterfly is centered at 1540 with 60X50 wings
1480/1540/1590 Put butterfly is showing MID at 5.50-5.60
This is a debit trade
This adjustment adds around 1600 of BP reduction
Order Ticket Type Asset Duration Strike C/P BTO RUT 30AUG 19 1590 PUT STO X2 RUT 30AUG 19 1540 PUT BTO RUT 30AUG 19 1480 PUT Total Debit: 5.50 TSLA at 224.75
We’re going to close out this trade at 66.6666667% of Max Profit.
Order Ticket Type Asset Duration Strike C/P Buy To Close TSLA 05JUL 19 200 PUT Total Debit: 1.20 SMH at 113.19
We’re going to Buy To Close 105 STRADDLE
Order Ticket Type Asset Duration Strike C/P Buy To Close SMH 12JUL 19 105 CALL Buy To Close SMH 12JUL 19 105 PUT Total Debit: 8.60
And we’re going to Sell To Open 12JUL 112 Put:
Order Ticket Type Asset Duration Strike C/P Sell To Open SMH 12JUL 19 112 PUT Total Credit: 1.40 
MMM at 169.56
We’re going to close this trade out for a profit.
1. Buy To Close 165 Straddle
Order Ticket Type Asset Duration Strike C/P Buy To Close MMM 19JUL 19 165 CALL Buy To Close MMM 19JUL 19 165 PUT Total Debit: 6.90 2. Buy To Close 175 Straddle
Order Ticket Type Asset Duration Strike C/P Buy To Close MMM 19JUL 19 175 CALL Buy To Close MMM 19JUL 19 175 PUT Total Debit: 6.65 SMH at 112
We’re going to exit this trade for a small loss.
We’re going to Buy To Close 12JUL 110 STRADDLE
Order Ticket Type Asset Duration Strike C/P Buy To Close SMH 12JUL 19 110 CALL Buy To Close SMH 12JUL 19 110 PUT Total Debit: 2.20 We’re going to Buy To Close 12JUL 112 Put
Order Ticket Type Asset Duration Strike C/P Buy To Close SMH 12JUL 19 112 PUT Total Debit: 0.65 RUT at 1567.43
We’re going to make an adjustment in 2 steps.
Step 1. Close out T1 Butterfly
Order Ticket Type Asset Duration Strike C/P STC RUT 30AUG 19 1550 PUT BTC X2 RUT 30AUG 19 1500 PUT STC RUT 30AUG 19 1440 PUT Total Credit: 4.75 Step 2. Buy To Open 1500/1560/1610 Put Butterfly
Order Ticket Type Asset Duration Strike C/P BTO RUT 30AUG 19 1610 PUT STO X2 RUT 30AUG 19 1560 PUT BTO RUT 30AUG 19 1500 PUT Total Debit: 9.50
Risk Profile:
BABA at 169.81
We’re going to sell an OTM Put with an Implied POP around 80%
We’re going to make adjustments when short strike’s delta turns 40 and take profits at 50-80% of max profit.
This is a naked short put trade, 162.5/147 Bull Put spread could be used to define risk on the downside.
Order Ticket Type Asset Duration Strike C/P Sell To Open BABA 26JUL 19 162.5 PUT Total Credit: 1.10 RUT at 1567.50
We’re going to add a Put butterfly at 1560 level with a 50 point wing on the downside and a 30 point wing on the upside.
Order Ticket Type Asset Duration Strike C/P BTO RUT 16AUG 19 1590 PUT STO X2 RUT 16AUG 19 1560 PUT BTO RUT 16AUG 19 1510 PUT Total Debit: 1.40 BABA at 172.99
I’m going to take this trade off at 50% of max profit.
Order Ticket Type Asset Duration Strike C/P Buy To Close BABA 26JUL 19 162.5 PUT Total Debit: 0.55
