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XBI at 91.29
We’re going to put on a short strangle with 31 days to expiration.
We’re selling a put around 18 delta and a call around 23 delta.
This trade has about 70% probability of profit.
Order Ticket Type Asset Duration Strike C/P Sell To Open XBI 18APR 19 96 CALL Sell To Open XBI 18APR 19 85 PUT Total Credit: 1.60 We’re going to target around 50% of credit as our initial profit target and we’ll make adjusmtents when either option reaches delta 30-40.
We’re going to roll up 113 Put up to 116 strike, collecting additional credit.
This trade has 10 days to expiration and we want to be all out in about 7 days.
Order Ticket Type Asset Duration Strike C/P Sell To Open MSFT 29MAR 19 116 PUT Buy To Close MSFT 29MAR 19 113 PUT Total Credit: 0.45 – 0.50 NFLX at 363.70
We’re looking to sell an OTM put with a POP around 85%.
This is a very short term trade with only 16 days until expiration, keeping size small is key.
Order Ticket Type Asset Duration Strike C/P Sell To Open NFLX 5APR 19 330 PUT Total Credit: 1.90 – 2.00 MSFT at 118.51
We’re going to roll 113C up to 117 strike.
This trade has 9 days left until expiration and we’re looking to close out this trade in the next 7 days.
Order Ticket Type Asset Duration Strike C/P Sell To Open MSFT 29MAR 19 117 CALL Buy To Close MSFT 29MAR 19 113 CALL Total Debit: 3.50 SMH at 109.03
We’re going to roll up 95 put up to 102 strike.
We’re collecting additional credit on this roll and that will push our break even a little further out.
This trade has about 60% probability of profit with 28 days until expiration.
Order Ticket Type Asset Duration Strike C/P Sell To Open SMH 18APR 19 102 PUT Buy To Close SMH 18APR 19 95 PUT Total Credit: 0.50 HD at 188.56
We’re going to sell an OTM put around 23 delta with 28 days until expiration.
This is a bullish trade with a POP around 82%
Order Ticket Type Asset Duration Strike C/P Sell To Open HD 18APR 19 182.5 PUT Total Credit: 1.20 We’re going to exit this trade at 50% of max profit in 1 day.
Order Ticket Type Asset Duration Strike C/P Buy To Close NFLX 5APR 19 330 PUT Total Debit: 1.00 MA at 236.40
We’re going to roll up 200 put up to 220 strike.
We’re collecting additional credit on this roll and that reduces the risk in this trade.
Order Ticket Type Asset Duration Strike C/P Sell To Open MA 18APR 19 220 PUT Buy To Close MA 18APR 19 200 PUT Total Credit: 0.70 We’re going to roll out our position to 12APR expiration cycle.
We are also going to widen this strangle by rolling 117 Call to 118 Call strike and 116 Put to 115 Put strike..
Order Ticket Type Asset Duration Strike C/P Sell To Open MSFT 12APR 19 118 Call Buy To Close MSFT 29MAR 19 117 Call Buy To Close MSFT 29MAR 19 116 Put Sell To Open MSFT 12APR 19 115 Put Total Credit: 0.70 – 0.75 RUT at 1512.
We’re going to remove the upper put butterfly.
This will reduce overall risk and we’ll make further adjustments if RUT continues to sell off.
Order Ticket Type Asset Duration Strike C/P STC RUT 30APR 19 1640 PUT BTC X2 RUT 30APR 19 1590 PUT STC RUT 30APR 19 1540 PUT Total Credit: 10.50 TSLA at 260.49
We’re going to sell a put around 16 delta with 18 days to expiration.
This is a very short duration trade and therefore very risk. Keeping the size small is very important.
Order Ticket Type Asset Duration Strike C/P Sell To Open TSLA 12APR 19 220 PUT Total Credit: 3.30 NOTE: Our first profit target is 50% of credit and we’ll adjust IF/WHEN short put reaches delta 40
We’re going to convert this into a strangle by selling an OTM Call.
We’re selling a call around 10 delta. We’ll manage the trade at 50% of Max profit OR when either short option reaches 35-40 delta.
Order Ticket Type Asset Duration Strike C/P Sell To Open TSLA 12APR 19 310 CALL Total Credit: 1.50 – 1.60 SPX at 2808
VIX at 15.36I’m looking to sell an Iron Condor in 17 MAY expiration cycle with 51 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:
2620/2610 Bull Put spread
2960/2970 Bear Call spread
Risk Management: I will use OTM options to hedge this Iron Condor when 2960 Call’s delta reaches 20 and 2620 Put’s delta reaches 25.
Price levels for adjustments: 2850 and 2710
Profit Target: 50-80% credit
MAL: -25% ROR
Order Ticket Type Asset Duration Strike C/P Buy To Open SPX 17MAY 19 2970 Call Sell To Open SPX 17MAY 19 2960 Call Sell To Open SPX 17MAY 19 2620 Put Buy To Open SPX 17MAY 19 2610 Put Total Credit: 1.80 We’re going to take this trade off at 40% of max profit in 11 days.
Order Ticket Type Asset Duration Strike C/P Buy To Close XBI 18APR 19 96 CALL Buy To Close XBI 18APR 19 85 PUT Total Debit: 0.90 We’re going to exit this trade at 75% of max profit in 11 days
Order Ticket Type Asset Duration Strike C/P Buy To Close HD 18APR 19 182.5 PUT Total Debit: 0.30
