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TSLA at 240
I’m going to put on a neutral position in TSLA with 14 days until expiration.
I’m selling a call around 12 delta and a put around 10 delta.
My profit target is 50-80% of credit collected and I’ll make adjustments at 215 or 265
Order Ticket Type Asset Duration Strike C/P Sell To Open TSLA 04 OCT 270 CALL Sell To Open TSLA 04 OCT 210 PUT Total Credit: 2.55
NOTE: Buying 200 Put and 280 Call will turn this into a 10 point wide Iron Condor with a stop at 1X credit collected.
SPX is set to open relatively flat this morning. On Friday, SPX closed at 2992
I’m looking to exit this Put Calendar as close to 13.00 as possible, current pre-market MID is showing 12.80-12.90
An exit at 13.00 would yield around 14% return on risk
Order Ticket Type Asset Duration Strike C/P Buy To Close SPX 04OCT 2975 PUT Sell To Close SPX 18OCT 2975 PUT Total Credit: 12.90 TSLA at 225
I’m going to BUY TO CLOSE 270 Call, leaving 210 Put open
Order Ticket Type Asset Duration Strike C/P Buy To Close TSLA 4OCT 270 CALL Total Debit: 0.15
AnonymousIs this a naked call?
This is a BUY TO CLOSE order.
If you scroll up, you’ll see an opening order where I sold 210 Put and 270 Call.
SHOP at 304.55
I’m going to sell an OTM put with an Implied Probability of Profit around 85%.
I’m looking to collect around 50-80% of the credit received.
My adjustment point is going to be when Short Strike delta turns 35-40.
Order Ticket Type Asset Duration Strike C/P Sell To Open SHOP 11OCT 260 PUT Total Credit: 2.90 For those that want to trade a Put Credit spread – I’d sell 260/250 Bull Put for 0.85 credit and my stop would be when this spread trades for 1.85 debit
SHOP at 313
I’m going to try to capture 45% of max profit here.
My original exit was 50% of credit in 16 days. If I can capture 45% in less than 1… Gotta move
Order Ticket Type Asset Duration Strike C/P Buy To Close SHOP 11OCT 260 PUT Total Debit: 1.60 TSLA at 242.42
Our 210 Put is now trading around 0.52 with 8 days to go. We’re taking the rest of this trade off and moving on.
Order Ticket Type Asset Duration Strike C/P Buy To Close TSLA 4OCT 210 PUT Total Debit: 0.50 For New Members of Income Navigator, check out Core Guide for this trade: >> RUT Broken Wing Butterfly
RUT at 1528
We’re going to put on a slightly OTM Put butterfly.
This trade is going to be scaled in 3 tiers.
This first tier is going to be 15-20 points below the current price and the width of the wings is going to be 70 points on the downside and 50 points on the upside.
Order Ticket Type Asset Duration Strike C/P BTO RUT 15NOV 1560 PUT STO X2 RUT 15NOV 1510 PUT BTO RUT 15NOV 1440 PUT Total Debit: 3.90 Tier2 will be added WHEN RUT trades above 1540-1550
On the downside, we’ll make adjustments WHEN RUT trades below 1470.
AnonymousThis is different than Oct 31st RUT trades. Right?
@Prabhakar:
This is a new position being established and it does not have anything to do with 31OCT or any other RUT position we’re currently holding.
RUT at 1515
I’m going to remove the highest of 3 butterflies here.
Order Ticket Type Asset Duration Strike C/P STC RUT 31OCT 1620 PUT BTC X2 RUT 31OCT 1560 PUT STC RUT 31OCT 1490 PUT Total Credit: 14.10 RUT at 1475
I’m going to add 31OCT/8NOV 1440 Put Calendar. Adding 6 calendars total while holding 1520 and 1540 Put Butterflys (1 contract each)
Order Ticket Type Asset Duration Strike C/P Sell To Open RUT 31OCT 1440 PUT Buy To Open RUT 08NOV 1440 PUT Total Debit: 4.40 RUT at 1471
Instead of closing 1510 Put Butterfly and opening a new butterfly At The Money, I’m going to open a 1400/1470/1530 Put Butterfly.
This will widen the tent on the downside and give me a chance to scale into the trade if RUT heads back towards 1510
Order Ticket Type Asset Duration Strike C/P BTO RUT 15NOV 1530 PUT STO X2 RUT 15NOV 1470 PUT BTO RUT 15NOV 1400 PUT Total Debit: 9.80 CMG at 819
We’re going to take a profit on this trade with 14 days until expiration. We could possibly hold this trade longer, but as the time starts to run out, the short gamma will make this trade very sensitive to price swings. To avoid turning a winning trade into a losing one, we’re going to book it and move on.
Order Ticket Type Asset Duration Strike C/P Sell To Close CMG 18 OCT 900 Call Buy To Close CMG 18 OCT 885 Call Buy To Close CMG 18 OCT 775 Put Sell To Close CMG 18 OCT 760 Put Total Debit: 2.05
