Stock / Symbol: Russell 2000 / RUT; Option Strategy: butterfly call spread; Trade entry date / price: Mar 23rd / $1265; Price at this post: $1244.80; Reasoning: Going to see if we can close out early for about 76% of the trade’s profit potential. Using a GTC order as it may take a few days […]
Stock / Symbol: SPDR S&P 500 ETF / SPY Option Strategy: [private_monthly]Double Calendar[/private_monthly] Price at trade post: $207.20 Reasoning: Putting on a [private_monthly]double calendar[/private_monthly] on SPY. This trade’s greeks are: 6.6 Delta, 5.0 Theta, and 98.6 Vega. We’ll look to adjust / close the trade at either of the upside or downside stops. Trade Details:[private_monthly] BTO 2 SPY […]
Stock / Symbol: United States Oil Fund / USO Option Strategy: [private_monthly]diagonal call spread;[/private_monthly] Trade Entry Date / Price: Feb 12th / $18.95; Price at this Adjustment: $17.80; Current Position:[private_monthly] Long 1 Jan16 15 call for a net debit of $4.24 per contract[/private_monthly] Reasoning: Writing another call against our position with USO. With this adjustment, […]
Stock / Symbol: Russell 2000 / RUT; Option Strategy: butterfly call spread; Price at trade post: $1265 Reasoning: I wanted to put on a bear call spread on RUT but with some protection, so I’m using a butterfly call spread. The trade’s greeks are: -2.9 delta, 2.6 theta, and -7.9 vega. The probability of success […]
Stock Symbol: FaceBook / FB; Option Strategy: diagonal call spread; Trade entry date / price: Feb 26th / $80.65; Price at trade exit: $84.35 Current Position: Long 1 FB Jan16 80 call Short -1 FB Mar15 82.5 call Reasoning: The short call is well ITM and we’ve nearly hit our upside stop. Going to close […]
Stock / Symbol: S&P500 Index / SPX Option Strategy: [private_monthly]iron condor[/private_monthly] Price at trade post: $2077 Reasoning: With not much of a chance of getting the trade filled at the desired level, combined with the need to re-calibrate the call portion of the trade to account for the market’s exuberance following today’s Fed meeting statement, […]
Correction: I had the wrong expiration date for the 1840 puts. Here is the corrected order: [private_monthly] Trade Details: STO -2 SPX Apr15 2195 calls BTO 2 SPX Apr15 2205 calls STO -2 SPX Apr15 1850 puts BTO 2 SPX Apr15 1840 puts for a min net credit of 0.55 per contract. The mid is […]
Stock / Symbol: S&P500 Index / SPX Option Strategy: [private_monthly]iron condor[/private_monthly] Price at trade post: $2077 Reasoning: Opening up an Iron Condor here with SPX for April option expiration. Working with a Standard deviation of[private_monthly] +/- 95[/private_monthly] by Apr 17th, and giving some more room to the downside, I’m selling the [private_monthly]2195 calls and 1850 […]
Stock / Symbol: PowerShares QQQ / QQQ; Option Strategy: Double Calendar; Trade entry date / price: 20 Jan / $100.82; Price at trade exit: $104.91; Reasoning: With the market down again today, and with us finally up on the trade (despite my poor management of it), I’m going to close out the position here. Current […]
Stock / Symbol: PowerShares QQQ / QQQ; Option Strategy: [private_monthly]Double Calendar[/private_monthly]; Trade entry date / price: 20 Jan / $100.82; Price at this adjustment: $106.40; Current position:[private_monthly] Long 2 Apr15 104 puts [/private_monthly] Reasoning: With the market down today, it’s a good time to sell another round of puts against our position. Selling the Mar […]