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SHOP at 439
I’m selling an OTM put with 11 days to expiration and an implied Probability of Profit at 85%
I’m looking to collect 50-80% of credit and I will make adjustments when SHOP trades below 415
Order Ticket Type Asset Duration Strike C/P Sell To Open SHOP 24JAN 410 PUT Total Credit: 2.60 SPX at 3285
I’m selling an Iron Condor in the 20MAR expiration cycle with 66DTE. I want to sell 10 point wide spreads that pay around 0.90c each.
Total credit for this trade: 1.80
MAX Allowable Loss: 2.25
Order Ticket Type Asset Duration Strike C/P Buy To Open SPX 20MAR 3460 Call Sell To Open SPX 20MAR 3450 Call Sell To Open SPX 20MAR 3050 Put Buy To Open SPX 20MAR 3040 Put Total Credit: 1.80 SHOP at 450
We’re going to take a profit at 50-60% of the credit received.
Order Ticket Type Asset Duration Strike C/P Buy To Close SHOP 24JAN 410 PUT Total Debit: 1.00 RUT at 1701
I’m going to put on a Scaling Income Butterfly with 64 days until expiration.
Planned Capital: 10,000
Profit Target: 10-15%
Stop Loss: -15%Trade Plan: Add Tier 2 when RUT trades above 1720 and add Tier 3 when RUT trades above 1740. Start rolling Tier 1 when RUT trades above 1750.
Order Ticket Type Asset Duration Strike C/P BTO RUT 20MAR 1730 PUT STO X2 RUT 20MAR 1680 PUT BTO RUT 20MAR 1610 PUT Total Debit: 5.80 SHOP at 449.67
I’m selling a strangle with 15 days until expiration.
I’m looking to collect 50-80% of credit or make adjustments below 425 or above 470
Order Ticket Type Asset Duration Strike C/P Sell To Open SHOP 31JAN 485 CALL Sell To Open SHOP 31JAN 420 PUT Total Credit: 6.00 TSLA at 540
I’m buying back remaining puts (to close)
Order Ticket Type Asset Duration Strike C/P Buy To Close TSLA 24JAN 465 PUT Total Debit: 0.3 SHOP at 470
I’m going to roll both, Calls and Puts up and out.
Rolling 420 Put up to 430 and out to 7FEB
Rolling 485 Call up to 500 and out to 7FEBCollecting additional credit. Will make further adjustments at 440 or 490
Order Ticket Type Asset Duration Strike C/P Sell To Open SHOP 7FEB 500 Call Buy To Close SHOP 31JAN 485 Call Buy To Close SHOP 31JAN 420 Put Sell To Open SHOP 7FEB 430 Put Total Credit: 1.10 GS at 248
I’m selling a strangle with 17DTE. This trade has an implied POP around 75%.
I will make adjustments at 237 or 255 while targeting between 50-80% of credit as my profit target.
Order Ticket Type Asset Duration Strike C/P Sell To Open GS 07FEB 260 CALL Sell To Open GS 07FEB 235 PUT Total Credit: 2.00 – 2.05 SPX at 3329
I’m buying a broken wing put butterfly with 21DTE. This is a 50 by 25 wide butterfly that will result in a NET credit to enter.
I will stop out of this trade IF/WHEN SPX trades below 3200 and there will be no other adjustments.
Order Ticket Type Asset Duration Strike C/P BTO SPX 12FEB 3250 PUT STO X2 SPX 12FEB 3225 PUT BTO SPX 12FEB 3175 PUT Total Credit: 1.10 SPX at 3331
This trade has reached 60% of credit in 30% of the time to expiration. It’s time to take a profit and move on.
Order Ticket Type Asset Duration Strike C/P STC SPX 21FEB 3150 PUT BTC X2 SPX 21FEB 3125 PUT STC SPX 21FEB 3075 PUT Total Debit: 0.70 RUT at 1662
We’re going to add a put butterfly, centered at 1660. This will be a broken wing butterfly with 70 point wing on the downside and a 60 point wing on the upside.
This adjustment will make 1590/1660/1720 butterfly a Tier 1 fly and the original 1610/1680/1730 butterfly a Tier 2.
From here I will follow the plan on the upside, as usual, adding Tier 3 when RUT trades above 1710-1720
Order Ticket Type Asset Duration Strike C/P BTO RUT 20MAR 1720 PUT STO X2 RUT 20MAR 1660 PUT BTO RUT 20MAR 1590 PUT Total Debit: 12.50 GS at 237
I’m going to roll 260 Call down to 245 strike, collecting additional credit.
Order Ticket Type Asset Duration Strike C/P Buy To Close GS 07FEB 260 CALL Sell To Open GS 07FEB 245 CALL Total Credit: 1.85 RUT at 1632
I’m adding a balanced Put butterfly with 70 point wings, centered at 1640
This adjustment will scale this trade to full size (3 Tiers).
I will make further adjustments as RUT starts to move outside of the tent. Here’s what this trade looks like after this adjustment:
Order Ticket Type Asset Duration Strike C/P BTO RUT 20MAR 1710 PUT STO X2 RUT 20MAR 1640 PUT BTO RUT 20MAR 1570 PUT Total Debit: 19.40 GS at 240.45
I’m closing this trade for a small profit.
I collected 3.83 in credits and now this trade is showing 3.50 debit to close with 7 days until expiration.To avoid big swings in P/L, it’s best to close here and move on.
Order Ticket Type Asset Duration Strike C/P Buy To Close GS 07FEB 245 CALL Buy To Close GS 07FEB 235 PUT Total Debit: 3.51 SHOP at 470.01
I’m going to close out this trade for a profit with 7 days until expiration.
I collected 7.10 credits and this trade now shows 4.50 debit to close.
Order Ticket Type Asset Duration Strike C/P Buy To Close SHOP 07FEB 500 CALL Buy To Close SHOP 07FEB 430 PUT Total Debit: 4.50
