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SPX at 4213
Position update:
On this move down, the SPX 11MAY has benefited from it and now the price is way outside of the profit tent. With little risk on the downside, I think it’s ok to hold this a bit here and see how things shake out
Risk Profile:
SPX at 4172
I’m going to make one more adjustment to eliminate all of the downside risk. This will leave me with risk on the upside, specifically over 4350 level
Risk Profile:
Order Ticket:
For my next adjustment, I am considering eliminating the put butterfly centered at 4320 and this should leave a risk free PUT CONDOR
To make the remaining PUT CONDOR risk free, I need to collect at least 10.00 for the farther OTM put butterfly
SPX at 4189
The price is well outside the profit tent and we’re seeing about an 8% ROR
I’m going to remove all of the downside risk here and also reduce BRP for this trade from 7,500 to about 4,000
I’m rolling 4300 long put up to 4315 strike and rolling 4390 long put down to 4390 strike
Order Ticket:
Risk Profile:
SPX at 4196
I’m going to remove the 4280/4320/4370 put butterfly (as mentioned above) to completely remove risk out of the remaining trade.
This adjustment will leave me with 4185/4215/4230/4260 put condor
Order Ticket:
Risk Profile:
If want to get extra cute, we can roll the wings in for an additional credit.
This will shrink the size of the ‘tent’ or profit area but will also lock in most of the profit in this trade.
The bonus here would be a pin between short strikes at expiration
SPX at 4144
I’m going to put on a broken wing put butterfly with 46 days until expiration.
I’m selling the 4000 put (around 35 delta) and I’m buying a put 50 points below and 45 points above the short put.
This trade will have a planned capital of 10k.
A 10 lot will require around 5100-5200.
My goal is to make around 10% ROR and I will stop out of the trade IF/WHEN down 15%.
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Order Ticket:
SPX at 4155
This trade has 18 days until expiration and the market is moving towards the profit zone area. I got a fill earlier today to close this trade for 2.25 CREDIT.
I will update the 30k allocation spreadsheet and post it here.
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Closing Order Ticket:
30k Allocation Model update
SPX at 4168
I’m going to go ahead and close out this trade around 10% ROR
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Closing Order Ticket:
SPX at 4156
I’m putting on a Bear Trap with 21DTE
This trade is made up of a PUT DEBIT SPREAD AND A PUT CREDIT SPREAD. For this trade, I am using a 15pt wide put debit spread (1 lot) and a 50pt wide put credit spread (2 lots).
This trade will require around $8,500 + debit paid in BPR.
My goal is to make about 5% ROR and if SPX starts to really roll over, I will look to exit the trade around SPX 3700.
This trade has a planned capital of $10,000
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Order Ticket:
Would it be possible to consolidate and put some of the information here in the member forum area that Tom King and Igor (and others) have
somewhere in Slack? It is hard to find, at least for me.Thanks.
SPX at 3891
I’m going to roll 1/2 position of the 4000 put down 10 points
Order Ticket:
Risk Profile:
SPX at 3946
I’m going to roll 4000 put down to 3990 again (the other 1/2 position)
Order Ticket:
SPX at 3981
I’m going to balance this butterfly by rolling 3950 put down to 3935 for a credit.
This leaves me with a balanced put butterfly and my BP tied up in this trade is 1/2 of my planned capital for it.
Risk Profile:
Order Ticket:
