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TSLA at 282.90
We’re taking on short term bullish trade in TSLA.
This trade is very risky because it only has 14 days until expiration.
We’re selling a put around 15 delta and we’re going to target around 50% of the premium.
Order Ticket Type Asset Duration Strike C/P Sell To Open TSLA 22MAR 19 245 PUT Total Credit: 3.05 Risk Profile:
SPX at 2745
VIX at 17.12I’m looking to sell an Iron Condor in 26APR expiration cycle with 50 days to expiration.
I am looking to sell a Bear Call spread that pays close to .90c credit and a Bull Put spread that pays around .90c as well, for a total credit of 1.80 or higher.
I want to keep my credit fairly balanced between both spreads.
For example, I don’t want to see 1.20 credit for one side and .50c for the other.
I want to keep credits as close to .80-.90 per side.I’m selling:
2560/2550 Bull Put spread
2890/2900 Bear Call spreadOrder Ticket Type Asset Duration Strike C/P Buy To Open SPX 26APR 19 2900 Call Sell To Open SPX 26APR 19 2890 Call Sell To Open SPX 26APR 19 2560 Put Buy To Open SPX 26APR 19 2550 Put Total Credit: 1.80 – 1.90 Risk Management: I will use OTM options to hedge this Iron Condor when 2890 Call’s delta reaches 20 and 2560 Put’s delta reaches 25.
Price levels for adjustments: 2780 and 2650
Profit Target: 50-80% credit
MAL: -25% ROR
Risk Profile:
We’re going to take this trade off at 50% of credit received.
Order Ticket Type Asset Duration Strike C/P Buy To Close TSLA 22MAR 19 245 PUT Total Debit: 1.50 We’re going to exit this trade at around 40% of max profit.
Order Ticket Type Asset Duration Strike C/P Buy To Close MSFT 5APR 19 118 CALL Buy To Close MSFT 5APR 19 107 PUT Total Debit: 1.00 MSFT at 113.55
We’re going to roll up 107P for additional credit. This will further reduce risk in the trade.
Order Ticket Type Asset Duration Strike C/P Sell To Open MSFT 29MAR 19 110 PUT Buy To Close MSFT 29MAR 19 107 PUT Total Credit: 0.30 – 0.35 BA at 375.
There’s news over the weekend of a plane crash, second in the last 5 months. Boeing is under big selling pressure after rallying over 30% since the start of the year.
Next week’s options are pricing in about 30 points worth of movement.
We’re looking to sell a Put, 60 points Out of The Money.
This is a very short term trade and carries a lot of risk on the downside.
***To limit risk on the downside this could be converted into a Bull Put spread.***
Risk Profile: 
Order Ticket Type Asset Duration Strike C/P Sell To Open BA 22MAR 19 315 PUT Total Credit: 1.50 – 1.60 We’re going to BUY TO CLOSE the put side of this Iron Condor.
Order Ticket Type Asset Duration Strike C/P Buy To Close SPX 26APR 19 2560 PUT Sell To Close SPX 26APR 19 2550 PUT Total Debit: 0.30 – 0.40 This leaves 2890/2900 Bear Call spread open. We’re going to look to re-establish a new put spread to bring in additional credit and reduce risk in this trade. We’re also going to look to hedge the call side if SPX breaks out above 2815-2820
Risk Profile: 
We’re going to close this trade at 50-60% of max profit
Order Ticket Type Asset Duration Strike C/P Buy To Close BA 22MAR 19 315 PUT Total Debit: 0.80 We’re going to SELL TO OPEN another round of Bull Put spreads.
We’re looking for a 10 point wide spread paying between 0.90c and 1.00 credit.
Order Ticket Type Asset Duration Strike C/P Sell To Open SPX 26APR 19 2680 PUT Buy To Open SPX 26APR 19 2670 PUT Total Credit: 0.90 – 1.00 MSFT at 114.74
We’re going to roll up 110 Put up to 113 Put to make this a short straddle at 113 strike.
This trade has 16 days to expiration, we’re going to look to exit this trade before it expires.
Risk Profile:
Order Ticket Type Asset Duration Strike C/P Sell To Open MSFT 29MAR 19 113 PUT Buy To Close MSFT 29MAR 19 110 PUT Total Credit: 0.50 – 0.55 SPX at 2815
We’re going to close out the remaining part of this Iron Condor.
Risk Profile:
Order Ticket Type Asset Duration Strike C/P Buy To Close SPX 18APR 19 2590 PUT Sell To Close SPX 18APR 19 2580 PUT Total Debit: 0.30 – 0.40 We’re going to close out this trade at 50% of credit
Order Ticket Type Asset Duration Strike C/P Buy To Close SMH 29MAR 19 107 CALL Buy To Close SMH 29MAR 19 96 PUT Total Debit: 0.85 – 0.90 MSFT at 116.72
We’re going to add another short strangle at 116 put and 117 call. We have 113 call that is ITM but there’s still 0.50c of extrinsic value, so the risk of getting assigned shares of MSFT is not a great one. We’re going to aim to close out of this position in the next 10 days.
Order Ticket Type Asset Duration Strike C/P Sell To Open MSFT 29MAR 19 117 CALL Sell To Open MSFT 29MAR 19 116 PUT Total Credit: 2.40 We’re going to buy a hedge to slow down the P/L on the upside. Our goal is to cut our NET delta by about 1/2.
Right now our NET DELTA is -27 (10 contracts Iron Condor) or about -2.7 per 1 contract.
We’re going to BUY TO OPEN 30APR 2925 Call.
Order Ticket Type Asset Duration Strike C/P Buy To Open SPX 30APR 19 2925 CALL Total Debit: 7.00 We’re going to close out this trade at 65% of credit received, after 14 days since entry
Order Ticket Type Asset Duration Strike C/P STC SPX 18APR 19 2700 PUT BTC X2 SPX 18APR 19 2675 PUT STC SPX 18APR 19 2625 PUT Total Debit: 0.60 Risk Profile:
