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SPX AT 3119
I’m going to sell another round of Bull Put spreads. This will bring in additional credit and further reduce overall position risk.
My goal is to be out of this trade over the next 14 days.
Order Ticket Type Asset Duration Strike C/P Sell To Open SPX 13DEC 3000 PUT Buy To Open SPX 13DEC 2990 PUT Total Credit: 0.90
AnonymousIf I have my numbers are correct, the call leg value is currently at a loss of aprox $1.20.
What are your plans or what are you looking to do?
I’ve done the same type trade where the price continues to rise; rolled the call leg twice. Ended up closing call side at a loss and off set loss by the put leg.
Could anything else be done?
TTD at 238.53
I’m going to take this trade off at 50% of max profit.
Order Ticket Type Asset Duration Strike C/P Buy To Close TTD 29NOV 220 PUT Total Debit: 0.95 RUT at 1581
I’m going to remove 1530/1600/1660 Put Butterfly
Order Ticket Type Asset Duration Strike C/P STC RUT 20DEC 1660 PUT BTC X2 RUT 20DEC 1600 PUT STC RUT 20DEC 1530 PUT Total Credit: 21.25 SPX at 3105
I’m going to put on an Iron Condor with 57 days until expiration.
I’m looking for 10 point-wide credit spreads that pay between $0.80c – $1.00
Credit: 185
BPR: 815
ROR: 22.69%
POP: 80%
Profit target: 50-80% of max profit
Stop: Loss of 1-1.2X credit collectedI will leg out of each spread when the value of the spread goes down to $0.30-$0.40
Order Ticket Type Asset Duration Strike C/P Buy To Open SPX 17JAN 3265 Call Sell To Open SPX 17JAN 3255 Call Sell To Open SPX 17JAN 2900 Put Buy To Open SPX 17JAN 2890 Put Total Credit: 1.80 – 1.90 SHAK at 60.29
I’m going to put on a bullish trade in SHAK with 29 days until expiration.
I’m selling an OTM put with an Implied Probability of Profit around 85%.
I will look to collect 50-80% of credit and make adjustments when short put’s delta reaches 40.
Order Ticket Type Asset Duration Strike C/P Sell To Open SHAK 20DEC 55 PUT Total Credit: 0.65 NOTE: Similar trade can be structured as a Bull Put spread:
Sell To Open 20DEC 55/45 PUT SPREAD MID 0.50 CREDIT
Stop: BTC 1.20 DEBITBA at 369.14
I’m going to put on a NEUTRAL trade in BA with 29 days until expiration.
I’m selling a CALL and a PUT around 1 standard deviation or 15 delta on each end.
My goal is to collect between 50% and 80% of credit and exit the trade. I will make the necessary adjustments if this stock trades within 5 points of either short option.
Order Ticket Type Asset Duration Strike C/P Sell To Open BA 20DEC 400 CALL Sell To Open BA 20DEC 340 PUT Total Credit: 4.05 – 4.10
Similar trade can be made with a defined risk as an Iron Condor, buying options 20 points away from the options being sold.
STO $BA 20DEC 320/340/400/420 IRON CONDOR MID 2.80 CREDIT
STOP: 5.80 DEBITRUT at 1589
I’m going to remove the remaining part of this trade with 28 days to go.
Overall, this was a very common trade that didn’t require a ton of management.
We’ve been in this trade for 36 days and this trade yields around 12% ROR.
Order Ticket Type Asset Duration Strike C/P STC RUT 20DEC 1630 PUT BTC X2 RUT 20DEC 1580 PUT STC RUT 20DEC 1510 PUT Total Credit: 12.75 SPX at 3108
I’m going to close 1/2 of my short 3170/3180 Call spread. This will re-balance my NET Delta from -20 to -2.
This adjustment will also remove some of the risk on the upside
Order Ticket Type Asset Duration Strike C/P Sell To Close SPX 13DEC 3180 CALL Buy To Close SPX 13DEC 3170 CALL Total Debit: 1.45 RUT at 1606
We’re adding Tier 2. We’re seeing fairly bullish price action in RUT and I’m going to try to keep my delta as close to NEUTRAL as possible.
The second Tier put butterfly is going to be 70X50 wings as well.
Order Ticket Type Asset Duration Strike C/P BTO RUT 17JAN 1640 PUT STO X2 RUT 17JAN 1590 PUT BTO RUT 17JAN 1520 PUT Total Debit: 6.40 SHAK at 61.15
We’re going to close out this trade at 45% of max profit and move on.
Order Ticket Type Asset Duration Strike C/P Buy To Close SHAK 20DEC 55 PUT Total Credit: 0.35 TSLA AT 337.50
I’m taking a bullish position in TSLA with 11 days to expiration.
I’m selling an OTM PUT with an Implied POP around 90%
My profit target is between 50% and 80% of credit collected and I will adjust this position when short put delta increases to 35-40 delta.
Order Ticket Type Asset Duration Strike C/P Sell To Open TSLA 06DEC 310 PUT Total Credit: 1.1 RUT at 1622
I’m going to add Tier 3, 20 points above the short strike of Tier 2.
I’m going to keep the wings at 70 points on the downside and 50 points on the upside.
Order Ticket Type Asset Duration Strike C/P BTO RUT 17JAN 1660 PUT STO X2 RUT 17JAN 1610 PUT BTO RUT 17JAN 1540 PUT Total Debit: 7.00 – 7.15 BA at 372.78
I’m going to close this trade at 45% of max profit.
Order Ticket Type Asset Duration Strike C/P Buy To Close BA 20DEC 400 CALL Buy To Close BA 20DEC 340 PUT Total Debit: 2.18 BYND 78.86
I’m going to take this trade off at 55% of max profit
Order Ticket Type Asset Duration Strike C/P Buy To Close BYND 20DEC 65 CALL Sell To Close BYND 20DEC 55 CALL Total Debit: 0.35
