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W at 150.99
I’m going to take a short term bullish position, selling an OTM Put with an Implied POP around 77%
I will look to capture 50-80% of credit and make any adjustments IF/WHEN trades around 140 level
Order Ticket Type Asset Duration Strike C/P Sell To Open W 26JUL 19 140 PUT Total Credit: 1.00 W at 139.92
I’m going to roll 140 Put down to 125 strikes and out to 16AUG expiration that has 29DTE.
Order Ticket Type Asset Duration Strike C/P Buy To Close W 26JUL 19 140 PUT Sell To Open W 16AUG 19 125 PUT Total Credit: 1.10 RUT at 1556
I will look to start to scale a new BWB next week, this trade is showing 15% ROR and scaled 2/3 size.
I also think that we may see RUT trading higher and that would not help this trade. Right now the MID price for this trade is 9.25-9.50 credit to close.
Order Ticket Type Asset Duration Strike C/P STC RUT 30AUG 19 1590 PUT BTC X2 RUT 30AUG 19 1540 PUT STC RUT 30AUG 19 1480 PUT Total Credit: 9.30 RUT at 1544.29
I’m going to exit the rest of this trade here.
Order Ticket Type Asset Duration Strike C/P STC RUT 30AUG 19 1610 PUT BTC X2 RUT 30AUG 19 1560 PUT STC RUT 30AUG 19 1500 PUT Total Credit: 11.80 RUT at 1546
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 25 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 20SEP 19 1570 PUT STO X2 RUT 20SEP 19 1520 PUT BTO RUT 20SEP 19 1460 PUT Total Debit: 6.80
Next tier will be added WHEN RUT trades 40 points above the short strike of the first butterfly (1560). On the downside, we’ll make adjustments WHEN RUT trades below 1480.
NFLX at 308.92
I’m looking to sell an OTM put with an implied POP around 80%
I’m going to make adjustments WHEN/IF my short put’s delta reaches 40 and my profit target is between 50-80% of the credit received.
*** A Bull Put spread could be traded at 290/270 for 1.40 credit with a stop at 2X credit received.
Order Ticket Type Asset Duration Strike C/P Sell To Open NFLX 09AUG 19 290 PUT Total Credit: 1.95 NFLX at 317.70
I’m going to take this trade off at 50% of max profit as per my trade plan.
Order Ticket Type Asset Duration Strike C/P Buy To Close NFLX 09AUG 19 290 PUT Total Debit: 0.80 RUT at 1573.57
We’re going to add Tier 2.
Our trigger for this add was RUT trading above 1560.
Tier 2 butterfly will be 20 points above Tier 1.
Order Ticket Type Asset Duration Strike C/P BTO RUT 20SEP 19 1590 PUT STO X2 RUT 20SEP 19 1540 PUT BTO RUT 20SEP 19 1480 PUT Total Debit: 6.90
Next tier will be added WHEN RUT trades above 1580. On the downside, we’ll make adjustments WHEN RUT trades below 1500.
W at 136.08
I’m going to Sell To Open 160 Call to balance out my NET delta of this position.
Before making this adjustment my short put has a delta of 29. Selling a Call with a delta of 20 will reduce my NET delta from 29 to 9.
Order Ticket Type Asset Duration Strike C/P Sell To Open W 16AUG 19 160 CALL Total Credit: 2.60 TSLA at 231.70
I’m looking to enter a short term bullish trade.
I’m selling an OTM put with an Implied Probability of Profit at around 80%.
I will look to capture 50-80% of credit and adjust when my short put’s delta turns 40-45
Order Ticket Type Asset Duration Strike C/P Sell To Open TSLA 9AUG 220 PUT Total Credit: 3.00 TSLA at 239.50
I’m going to close out this position at 60% of max profit.
Order Ticket Type Asset Duration Strike C/P Buy To Close TSLA 9AUG 220 PUT Total Debit: 1.20 RUT is at 1579.30
We’re going to add a butterfly, centered at 1560 (Tier3).
Order Ticket Type Asset Duration Strike C/P BTO RUT 20SEP 19 1610 PUT STO X2 RUT 20SEP 19 1560 PUT BTO RUT 20SEP 19 1500 PUT Total Debit: 8.20 We’re also going to remove the original butterfly, centered at 1520. The reason for that is RUT looks like it is ready to move out of the range that it has been trading in recently.
Order Ticket Type Asset Duration Strike C/P STC RUT 20SEP 19 1570 PUT BTC X2 RUT 20SEP 19 1520 PUT STC RUT 20SEP 19 1460 PUT Total Credit: 5.20
Risk Profile:
RUT at 1595
I’m going to make an adjustment to re-balance NET Delta and boost Theta in this trade.
I’m going to Remove Tier 1 fly (1450/1500/1540) – This will leave me with 2 BWB.
Order Ticket Type Asset Duration Strike C/P STC RUT 16AUG 19 1540 PUT BTC X2 RUT 16AUG 19 1500 PUT STC RUT 16AUG 19 1450 PUT Total Credit: 2.05
Add (2) 1610 Call Calendars (16AUG/23AUG) – MID 4.00 debit
Order Ticket Type Asset Duration Strike C/P Sell To Open RUT 16AUG 19 1615 CALL Buy To Open RUT 23AUG 19 1615 CALL Total Debit: 3.75
Risk Profile:
W at 131.48
Earnings are out and vol got crushed.
It’s time to take this trade off.
Order Ticket Type Asset Duration Strike C/P Buy To Close W 16AUG 19 160 CALL Buy To Close W 16AUG 19 125 PUT Total Debit: 2.90 RUT at 1555
I am adding a Put Debit spread to re-balance this position’s NET delta.
Order Ticket Type Asset Duration Strike C/P Buy To Close RUT 16AUG 19 1560 PUT Sell To Close RUT 16AUG 19 1540 PUT Total Debit: 8.05
