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One option in /ES is 3870/3840/3370 Jan23 (52DTE) for $10.75
I’m rolling the wings in and bring an additional credit of .70cr Reducing risk to the upside and bringing deltas a bit more positive.
SOLD -1 CONDOR RUT 100 16 DEC 22 [AM] 1785/1780/1710/1705 PUT @.70For ES or MES options, one can look at Days To Expiration and get as close to it as poss
SPX at 4028
This trade is 9DIT. SPX looks like it is setting up for a push for 4100-4150
I am going to add a little more positive delta to this trade by Selling To Close 20% of my Put Debit spread.
This is going to add positive delta and increase theta a little. This will also add negative vega.
Greeks (top before, bottom after):
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so your adding some profitability to the trail and reducing it in the trap
@Kim V
Yes, this will reduce the size of the trap but will increase profit potential if SPX is outside of the trap at expiration.
AMZN at 93.76
I’m going to go with a broken wing call butterfly with plenty of time until expiration. This one is going to be a slow mover, but we will need this stock above 98 by March to make money in this trade (at expiry)
I’m buying 95/105 call spread and selling 105/110 call spread.
Risk in this trade is the debit paid to enter.
Probability of Profit: 40% – this means there’s about a 40% probability AMZN will be above breakeven at expiration.
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I’m rolling both contracts on the wings in 1 strike for .50cr Reducing upside risk and increasing deltas a bit
@igor What caused you to be bullish on SPX such that you made the 11/23 adjustment that resulted in increased positive delta and increased negative vega?
SPX at 3951
I’m going to set up a new 112 Bear Trap as part of my weekly 112BT campaign. This trade is set up slightly lower than the last week’s trade but the entry criteria remains the same:
Buy To Open PDS around 35 delta and go 30pt wide
Sell To Open OTM put around 5 deltaLooking to collect around 10.00 – 10.50 credit
I will delta hedge this trade if SPX gets into the trade in the first 30 days. The max allowable loss is around the max profit inside the trap at expiration. If I collect 10.00 credit then my stop IF/WHEN this trade is down 30.00 + 10.00 or 40.00 debit.
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HD at 313.45
MACD is crossing to sell signal and there’s a gap between 297 and 292.
I’m not looking for a crash but a pullback towards 290 area.
This is a broken wing put butterfly with no downside risk. The risk in this trade is 100% of the debit paid.
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I’m bringing in 1 tranche of the wings in to increase delta and reduce risk on the upside bringing an additional .48cr
SOLD -1 CONDOR RUT 100 16 DEC 22 [AM] 1775/1770/1720/1715 PUT @.48
@Geoff
The market looked like it was breaking higher and I needed to add more positive delta.
Clearly, I was a bit wrong on my ‘breaking out’ assumption then but it didnt hurt the trade overall.
MSFT at 255.72
We’re looking for a move towards 265 over the next few weeks. This is a short term trade and that makes it risky. The risk is that it doesnt move fast enough towards our target. Financial risk in this trade is the debit we are paying to put this trade on.
I’m buying 257.5/265 call spread and I’m selling 265/270 call spread to help pay for it.
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