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COF at 170.64
COF paid a dividend of 0.60 and strikes have been adjusted by this amount. I have a 10pt wide call debit spread and I will close out this trade at 65% of the width
Order Ticket:
Date: 8/10/2021
NKE at 173.68
This trade has 10 days until expiration and all options are deep ITM. I’m going to close out this trade for as close to $0 as possible
Order Ticket:
GS at 408.52
We’re in a call butterfly with no upside risk. The most this butterfly can be worth (with stock above upper long call) is $5.00 at expiration.
This trade has 38 days until expiration. Right now the mid price for this butterfly is $4.30
IMO, it is not worth waiting another 38 days to make an additional $0.70
Let’s take this one and look for another set up.
Risk Profile:
Order Ticket:
PANW at 378.69
The chart is suggesting we might see a move lower as the stock is testing a rising 50dma, but 10/20 moving averages are crossing down. If the 50d moving average does not hold, we can see a move down to 350 or so.
I’m going with a risk defined strategy, put debit spread and will only risk what I am willing to lose.
There’s also earnings coming up and this could play into my hand, if the stock gets cooked after the event.
Chart:
Order Ticket:
CAT at 218.10
I’m going to book this trade and look for another set up
Risk Profile:
Order Ticket:
SPX at 4437
I’m looking to set up an Iron Condor closest to 45DTE
I’m looking for 2 credit spreads, 10pt wide, total credit 5.20
My profit target is 1.00 and my stop loss is a loss of 1.50
Risk Profile:
Order Ticket:
JPM at 161.38
I’m going to book this trade and look for another set up.
Risk Profile:
Order Ticket:
PANW at 369.32
This trade is showing a +25% gain in 1 day and IMO this is a good spot to scale out or close out. Ideally, we want to sell enough spreads to remove all of the risk in this trade and hold through earnings.
Risk Profile:
Order Ticket:
DIS at 185.53
Disney got a nice pop on earnings and we have an opportunity to turn this trade in to a butterfly. This adjustment will give up some of the potential upside above 190 but we are also going to reduce risk by 50%
I’m going to SELL TO OPEN 17SEP 190/200 CALL SPREAD:
Order Ticket:
Risk Profile:
DASH at 189.65
DASH was down to 182 after earnings and now we’re pushing back towards 190. There are 35 days left in this trade and taking profits or scaling out is starting to make sense. The goal is to remove as much risk out of the trade as possible while leaving some room for more upside.
I’m going to post an exit here and I will look for a new set up.
Risk Profile:
Order Ticket:
SNOW at 290.41
SNOW is moving higher, putting the current Call Condor ITM. To unlock potential upside reward, I’m going to pick up an OTM Call Calendar. This is a debit trade, which means that I will potentially re-introduce risk in this trade. To unlock upside potential (positive), I’m going to expose this trade to both, upside and downside risk (negative). It’s a game of give and take. This trade will have a pretty wide area of profit and you can see where the risk is on this graph:
Order Ticket:
CRWD at 243.44
I’m looking for a pullback to a minor support around 225 before the next support level (180ish) comes into play.
Chart:
I’m going to set up a bearish broken wing put butterfly with 21 days until expiration.
This is a bearish strategy with limited risk of $330.00 and limited potential reward of $1,170.00.
This strategy will profit if the stock closes below $236.70 by Sep 3, 2021.
There is a 44.30% probability this will happen.
Risk Profile:
Order Ticket:
CRWD at 231
We’re going to make an adjustment, taking most of the risk OFF the table.
P.S. For those that arent familiar with such adjustments, the easy trade management is to take the profit and look for another set up.
I’m selling the long puts in the 3SEP expiration and buying puts in the 10SEP expiration at 225 strike to make it a put calendar centered at 225.
Risk Profile:
Order Ticket:
V at 233
Selling an OTM put spread with 32DTE.
This is a bullish strategy with limited risk of $448.00 and limited potential reward of $52.00.
This strategy will profit if the stock closes above $219.48 by Sep 17, 2021.
There is a 83.62% probability this will happen.
Risk Profile:
Order Ticket:
