NaughtyPines

OPENING: IWM DEC 23RD 135/138 SHORT PUT VERT

AMEX:IWM   ISHARES RUSSELL 2000 ETF
15 days ago
Here, I'm opening a short call vertical to pair with a short put vertical that I originally put on as a delta hedge. IWM             , after all, is looking overextended, toppy             here, and I want to have more short delta in place for my overall IWM             position if the election "exuberance" begins to wear thin.

I filled the spread for a .52 ($52)/contract credit and will look to take off the now complete iron condor as a unit at 50% max profit if I get the chance.

Notes: I generally don't leg into iron condors as a matter of course, but it just so happened that I had more "put side" units than "call side" units. This balances that out.
11 days ago
Comment: Actually, that was a short call -- not put -- vert.
11 days ago
Comment: Rolling the 116/119 short put vert to the 125/128 short put vert in the same expiry for a .41 ($41)/contract credit. IWM up move somewhat unrelentless ... .
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