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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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SPX at 4487
I’m going to roll the lower long put down 10 points. This will flatten out T+0 line, increase risk on the downside, decrease risk on the upside and it will all be within the original BPR
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NOW at 527
It’s time to take a profit or at least scale some.
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SPX at 4450
I’m going to roll the short 4505 leg down 10 points for a debit. This will reduce risk on the downside, increase risk on the upside.
So far, SPX moved -1.25SD in 6 days and this position near break even.
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SPX at 4434
I’m going to take partial profit in this trade, closing 3 of 5 contracts
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Closing 3/5 of the position take my BRP down to $1,595 from original $5,200
BURL at 206.87
I’m looking for a move towards 240 level.
This is an OTM call butterfly.
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How does span margin work and how does it react with volatility changes?
SPX at 4446
This pos has reached profit target. Time to close and move on.
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SPX at 4485
I’m going to set up a put butterfly with 20DTE.
My planned capital for this trade is 10k, this is the most I want tied up in this trade (assuming further adjustments).
This trade starts with 4390/4350 put debit spread and 4350/4300 put credit spread. Each butterfly will take up 1k BP (plus/minus any debit or credit at entry)
My goal is to exit with about 10% ROR and I will consider stopping out IF/WHEN I reach -15% ROR
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Please check this link: https://www.investopedia.com/terms/s/spanmargin.asp
ABNB at 159.39
I’m going to take a bearish bet ahead of earnings.
I’m selling an OTM put in 6MAY expiration and I’m buying an ITM put in 20MAY expiration.
This is a NET debit trade and my risk is the debit paid for it. I’m willing to lose 60% of the debit before stopping out of the trade.
Chart:
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Less than 24 hours later and -3.8SD move lower, SPX is at 4338
I’m going to make an adjustment to cut my NET delta from +7 to close to 0 (7 contracts total position)
I am rolling 2 of 14 of the 4350 puts down to 4330 for a debit.
This adjustment is going to increase upside risk but will reduce risk on the downside.
Here’s the Risk Graph:
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SPX at 4244
I’m going to roll 5 (of 12) short 4350 puts down to 4330 strike for a debit
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This adjustment is going to reduce risk on the downside but will increase risk on the upside.
I am still within 10k planned risk (BPR) in this trade
SPX at 4238
The price is well within the profit tent(s) and now this position is accumulating positive delta, currently +8
I’m going to roll the 4170 long put up to 4185 strike for a debit.
This adjustment is a debit trade and will take my NET delta from +8 to about 0
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As long as the price is inside the tent, I’ll try to keep this position delta neutral and wait for decay to do it’s job. If the price starts to move in either direction, I will look to make further adjustment by rolling the wings in on both sides of this trade.
