Opening (IRA): IWM April 21st 162/July 21st 190 LPD*

... for a 19.29 debit.

Comments: Long the -90 put in July, short the +30 put in April; short delta hedge against a long delta portfolio.

Cost basis of 19.29 with a 170.71 break even on a 28 wide.

* -- Long Put Diagonal.

Trade active:

Put in an order to roll the April 21st 162 short put to the April 28th 166 (+30 delta), since the futures are flashing a bit of weakness here and the price of the underlying is above my break even.

Trade active:

Filled for a 1.15 credit. Cost basis of 18.15 with a 171.86 break even on a 24 wide.

Trade active:

Must have failed to post a roll (or two here) ... . Rolled the April 21st 162 to the April 28th 166 for a 1.15 credit on 3/28 and then the April 28th 166 to the May 5th 171 for a 1.41 credit on 3/31. Today, rolled the May 5th 171 to the May 12th 173 for an .84 credit. Current cost basis: 15.90 with a 174.10 break even on a 17 wide.

Trade active:

With 7 DTE left in the short leg, rolling it from the May 12th 173 down and out to the June 2nd 170 for a .71 credit. 15.19 cost basis with a 174.81 break even on a now 20 wide. It's not quite to the 30 delta, but the strike is at the low end of IWM's range at the moment.

Trade active:

Now rolling the June 2nd 170 out to the June 16th 168 (32 DTE, 30 delta) for a .62 credit. Cost basis of 14.57 with a 175.43 break even on a 22 wide.

Trade active:

Rolling the June 16th 168 to the June 23rd 173 for a 1.19 credit. Cost basis of 13.38 with a 176.62 break even on a 17 wide.

Trade active:

Rolling the June 23rd 173 to the June 30th 174 for a .59 credit. Cost basis of 12.79 with a 177.21 break even on a 16 wide.

Trade active:

Rolled the June 30th 174 at >50% max to the 30 DTE 30 delta 182 for a 1.45 credit. Cost basis of 11.34 with a 178.66 break even on an 8 wide.

Trade active:

Finally some weakness to extend duration into ... . Rolling the July 21st 190 long put to the August 18th 192 long put for a 2.25 debit. Cost basis of 13.59 with a 178.41 break even on a 10 wide. Will look to roll the short put out next week, since it's not at 50% max and still has some extrinsic in it ... .

Trade active:

Widening back out with 11 days to go for the short option leg ... . Rolling the July 7th 182 to the August 4th 178 for a .30 credit. Cost basis of 13.29 with a 178.71 break even on a 14 wide.

Trade active:

Rolling the August 4th 178 out to the August 18th 178 for a .55 credit. 12.74 cost basis with a 179.26 break even on a 14 wide.

Trade active:

Rolling the August 18th 192 long put to the Sept 15th 199 (90 delta) for a 6.09 debit. 18.83 cost basis with a 180.17 break even on a 21 wide.

Trade active:

Rolled the August 18th 178 short put to the August 25th 186 (30 delta) for a 1.57 credit. 17.26 cost basis with a 181.74 break even on a 13 wide.

Trade active:

Rolled the August 25th 186 to the Sept 1st 191 (30 delta) for a 1.15 credit. 16.11 cost basis with a 182.89 break even on an 8 wide.

Trade active:

Extending duration of the back month long ... . Rolling the Sept 15th 199 to the Nov 17th 208 for an 8.65 debit. 24.76 cost basis with a 183.24 break even on a 17 wide.

Trade active:

Vacation roll: From the Sept 1st 191 to the October 20th 183 for a .20 credit. 24.56 cost basis with a 183.44 break even on a 25 wide. Figured I'd take a smaller credit here to get my short option leg back below my cost basis and to move it away from at-the-money ... .

Trade active:

Taking the opportunity to extend duration of the back month, this time for a credit. Rolled the November 17th 208 to the Jan 205 for a 2.41 credit. 22.15 cost basis with a 182.85 break even on a 22 wide. I did give up a little on my break even as of the last roll (from 183.44 to 182.85), but anticipate being able to widen this out by rolling the short leg down and out for a credit (famous last words).

Trade active:

(Late Post). Extended duration of the back month long on Friday when I could do so for "cheap." Rolled the Jan 205 to the March 205 for a .29 debit. 22.44 cost basis with a 182.56 break even on a 22 wide. Waiting patiently to roll out the October 23rd 183 short ... .

Trade active:

Rolled the October 20th 183 short put to the November 3rd 182 for a .52 credit. 21.92 cost basis with a 183.08 break even on a 23 wide. I'm fine with rolling from an in-the-money strike to an in-the-money strike here, since my cost basis is less than the width of the diagonal here.

Trade active:

Rolling the Nov 3rd 182 to the December 15th 182 for a .66 credit. Couldn't do any strike improvement here without paying a debit, so will have to look for better opportunities for strike improvement going forward if I get an opportunity to do that. 21.26 cost basis with a 183.74 break even on a 23 wide.

Trade closed manually:

Out for a 22.85 credit. 22.85 - 21.26 = 1.59 ($159) profit. Would probably have made more if I hadn't gotten so "cute"/aggressive with the short side rolls.