OPENING: IWM APRIL 17TH "DOUBLE DOUBLE" 136/146/2X172/2X177

25 lut 2020

... for a 1.79 credit.

Notes: Here, going defined in one of the smaller accounts with a "double double" iron condor. The call side short aspect is at half the delta of the put side short aspect, with the call side spread half the width, but doubled in contracts to accommodate skew. I'm not collecting one-third, but want to avoid potential whipsaw in this high volatility environment.

The naked ratio'd 146/2x 172 is paying 2.85 for those not wanting to give up premium to the wings.

10 mar 2020

Zlecenie aktywne

Rolling the call side down to the 150/155 for a .29/contract credit (.58 total since it's doubled up). Scratch at 2.37.

17 mar 2020

Zlecenie aktywne

Closing out the call side for .04 (.08) total. Scratch at 2.29. Not a great deal of sense in rolling to a fly, since I don't get much for doing that here. Since working the put spread will be pesky, buying back the 136 long for a 33.20 credit and will work the short put as a stand alone, either rolling, or taking on shares and covering. Scratch at 35.29, cost basis of 110.51/share if assigned.

24 mar 2020

Komentarz

Correction: 1.79 + .58 - .08 + 33.20 = 35.49/110.51 cost basis. Looked out rolling out "as is" to reduce cost basis, but IV is actually contractive in later expiries, so I can't get much for doing that and certainly can't get both a credit and meaningful strike improvement by doing that. Will look to scratch it out if we pop above the 110.51 break even; otherwise, will just take on assignment, sell the 110 calls against and go from there.

24 mar 2020

Zlecenie aktywne

Now that I look at it: Going inverted by selling the April 17th 110 for 4.15 here, resulting in a 36-wide inversion for which I've received 39.64 total, so it's still got a max profit potential of 3.64 ($364) and a break even of 146 - 39.64 or 106.36.

31 mar 2020

Zlecenie zamknięto ręcznie

From a horrible loser to a scratch out ... . I'll take it. Covering here for 39.70, a .06 ($6) loss. Lol.