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SPX at 4500
I’m going to close out 1/2 of this position
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SPX at 4474
I’m buying 4390/4350 put debit spread and I’m selling 4350/4300 put credit spread to make it a broken wing put butterfly
Profit Target: 8-10% of BPR
Stop: below downside breakevenRisk Profile:
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SPX at 4485
I’m going to add another put butterfly, closer to ATM
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INTC at 51.44
I’m going to pick up an ATM call in JUN expiry, looking for a move higher.
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SPX at 4515
I’m going to roll my long puts in, moving them closer to the body of this butterfly.
The 4390 put is going to 4375 and the 4300 put is going to 4310
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SPX at 4595
This is a new tranche of 14DTE put butterfly
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RH at 327
I’m looking for a move lower over the next few weeks. I could be wrong, so only willing to risk what I am willing to lose.
The way I’m going to play this is to buy a longer dated put (6MAY 315 PUT) and sell a shorter dated put against it to reduce the cost of the long put (22APR 300 PUT)
Selling the 300 put will reduce the cost of the 315 put from 14.00 to 8.00
$800 debit is what this trade is going to cost and this the max I can possibly lose.
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WFC at 49.27
I’m going to set up a bearish bet for earnings:
Buying 29APR 49 PUT (IV 40%)
Selling 14APR 47 PUT (IV 43%)Selling a higher IV due to earnings.
If the stock trades lower after earnings, front month IV will collapse faster than the backmonth IV and this should help from IV standpoint.
On a move lower, we have short delta and this should help this trade too.
If the stock trades higher, IV on the frontmonth will collapse anyway and the back month will get hit too with only 2 weeks left until expiration (after earnings are out).
There will be too little time to save the remaining long put, so planning for a full loss is recommended.
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IRSG at 306.25
This is a bullish trade idea ahead of their earnings.
I’m selling a shorter dated call to finance the purchase of a longer dated call option.
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NOW at 549
I’m setting up a put butterfly, centered around 520 level. This is a broken wing butterfly with no risk on the downside. The risk in this trade is the debit paid to enter.
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WFC at 48.11
This trade is working in our favor and I’m looking for a way to reduce risk and remain in the trade.
I’m rolling short 47 put up to 48 strike for a 0.40 credit
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SPX at 4518
I’m seeing a 0.15 credit to close this trade, which expires in 5 days (Wed next week). Time to book it and move on.
SOLD -3 BUTTERFLY SPX 100 (Weeklys) 6 APR 22 4375/4350/4310 PUT @.15 CBOE
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SPX at 4582
This trade is showing 11% ROR in 5 days. It’s time to make the donuts
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Next trade will go up on Wednesday.
SPX at 4558
I’m setting up a slightly OTM Put Butterfly, using 50X40 wings, 24DTE
BPR = difference between strikes (1,000) + debit paid
For a 10,000 BP allocation I will go with 5 contracts and potentially roll upper long wing down from 10 to 30 points
Rolling upper long wing down 30 points will make it a 50X20 butterfly with BPR of $3,000 – any credit collected
So this could possibly take total BPR to $10,000
On a move higher, I will roll upper long put down, collecting a credit and eliminate upside risk
On a move lower, I will roll lower long put higher, paying a debit but it will not take up any more BP
PT 10% ROR, stop at a loss of 12-15%
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SPX at 4470
I’m going to roll 4520 put down to 4505 strike for a debit
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