Opening (IRA): PYPL February 21st 77.5/82.5/97/102 Iron Condor

Feb 3

... for a 1.66 credit.

Comments: Earnings announcement volatility contraction play.

Metrics:

Max Profit: 1.66
Buying Power Effect: 3.34
ROC at Max: 49.70%
50% Max: .84
ROC at 50% Max: 24.85%

Feb 4

Note

Rolled the -97C/77.5P down to the -84C/65P for a 2.07 credit; 3.73 total credits collected.

Feb 5

Note

Rolled out to the March 21st 60/80/80/100 for a 1.42 credit; 5.15 net credits received.

Feb 7

Note

Inverting a smidge to keep the setup "delta happy." Rolling the 80/100 down to the 77.5/97.5 for a 1.11 credit; 6.26 collected on a 2.5 wide inversion. Will ideally uninvert if I get a move back to 80-ish.

Feb 10

Note

Uninverting on this move back between the short option strikes, rolling the -77.5C/-80P to the -77.5P/-80C for a 2.54 debit; 3.72 net credits collected.

Feb 11

Note

Back to an iron fly: rolling the 80/97.5 short call vertical down to the 77.5/95 for a .92 credit; 4.54 net credits collected.

Feb 24

Note

Inverting ... . Rolling the 77.5/95 short call vertical down to the 75/92.5 for a 96 credit; 5.60 credits collected on a 2 1/2 wide inversion.

Feb 25

Note

Uninverting the -75C/-77.5P to the -75P/-77.5C for a 2.58 debit; 3.02 net credits collected.

Feb 26

Note

Rolling the -77.5C/92.5C to the -75C/90C for an .89 credit. 3.91 net credits collected.

Feb 27

Note

Staying mechanical here, rolling out to the April 17th at approximately 21 DTE for a 1.41 credit; 5.32 net credits collected.

Mar 1

Note

Late post: Rolled the 75/90 down to the 72.5/87.5 for a .76 credit; 6.08 credits collected on a 2.5 wide inversion.

Mar 4

Note

Rolled the 72.5/87.5 down to the 70/85 for a .75 credit; 6.83 collected on a 5-wide inversion.

Mar 6

Note

(Late Post). Uninverted for a 5.08 debit; 1.77 net credits received.

Mar 10

Note

Rolled the 85/75 short call vertical aspect down to the 82.5/72.5 for a .49 credit; 2.26 net credits collected.

Mar 19

Note

Rolled out to the May 16th 60/70/75/82.5 for a 1.57 credit; 3.83 net credits collected, delta/theta 6.66/5.05. It's marking at 5.05 relative to my scratch point at 3.83, so it's still net-net under water by 1.22.