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SPX at 4123
I’m going to pick up (8) OTM call calendars as discussed above.
The center of this calendar is at 4150 strike.
Order Ticket:
Risk Profile:
SPX at 4123
The price is clearly moving away from the trap area with 17 days until expiration.
I am going to close 1 of 2 put debit spreads, reducing possible loss if SPX continues to stay above 3900
Risk Profile:
Order Ticket:
MSFT at 271.50
I’m going to roll the short 245 put out to 10JUN expiry and up to 255 strike for a credit of 1.58
Order Ticket:
Credit collected: 8.15
AAPL at 148.23
I’m going to roll the short 148 put down to 145 strike and out to 10JUN expiry. This roll produces a credit of 0.36
Order Ticket:
I now collected 2.96 credit per contract
SPX at 4119
I’m going to set up a Bear Trap with 21DTE
This set up is pretty straight forward. I’m buying a 25 point wide put debit spread at around expected move lower and I’m selling a farther OTM put to cover the cost of the debit spread.
In this trade, I’m buying a put spread for about 4.75 and I’m selling a put for 5.10 to cover the cost. This would leave me with a NET credit of 0.35
Risk Profile:
Order Ticket:
BTO RUT 29 JUL 1820/1870/1920 PUT BFLY for 4.89db
I will be scaling into a bearish butterfly. Planned capital is 5K and looking for about 30% ROC
RUT crossing above 1910 will trigger a 2nd tier.
My aim is to scale into 3 flies 20 pts apart from each other as RUT moves up. Together they will form the bearish fly.Date: 6/6/2022
RUT crossed 1910 and triggered the 2nd tier entry.
I’m adding another 50 point butterfly:
New risk profile:
SPX at 4152
I’m going to close 1/2 position in 3920/3950/3990/4020 put condor.
This will leave me with 1/2 position of the put condor and 8 call calendars at 4150 strike
Risk Profile:
Order Ticket:
SPX at 4088
I’m looking to set up a flat fly with 36 days until expiration.
This is a 50 point wide put debit spread and a 60 point wide put credit spread combo.
This BPR for this trade is about 1,000 per 1 contract.
I will allocate 10k of BPR for this trade.
I will start this trade with 6 butterflies and leave the rest of the BPR for potential adjustments.
My profit target is about 10% ROR and I dont want to risk more than 15-18% ROR.
I will manage the trade on the downside IF/WHEN SPX trades below 4,000.
Risk Profile:
Order Ticket:
SPX at 3942
I’m going to make one more (and probably last) adjustment as this trade is going to expire next week.
I’m going to roll the long 3920 put from 17JUN to 21JUN strike for a debit.
My stop out in this trade IF/WHEN SPX breaks below 3870
SPX at 3923
The vol has spiked and now the market is emotional once again, after 2 weeks of movement within 100 point range.
This trade is expiring next week. I dont know if we’re going to see ‘non movement’ before then, but my goal right now is to cut my DELTA as close to flat as possible.
Currently my position delta is about +24
I’m going to roll the short 3950 put down 20 points and this will cut my delta to about -1.84
This is the same as buying a 3950/3930 put debit spread.
SPX at 3914
I’m going to Sell To Close the long put vertical and leave the short put spreads to expire on Monday
SPX at 3903
I’m going to set up a trade that consists of:
(2) 25pt wide put debit spreads for around 2.00 debit
(1) Short OTM put that will cover the cost of the debit spreads.If I’m paying 2.00 for the debit spreads (total of $400) then I need to sell one OTM put for 4.00 to cover the cost of these debit spreads.
Here’s what this looks like:
Risk Profile:
Order Ticket:
Trade adjustment:
I’m closing the 2 butterflies and open a new one centered at 1700.
STC RUT 29 JUL 1840/1890/1940 4.53cr
STC RUT 29 JUL 1820/1870/1920 4.69crBTO RUT 29 JUL 1650/1700/1750 4.50db
