Opening (IRA): SMH 2 x July 19th 210/215 Short Put Vertical
... for a 1.00 in credit.
Comments: Part two of delta adjustment trade ... .
Instead of rolling up the 205/215 short put vertical, I closed it out (See Post Below), and then re-erected a 2 x 5 to delta balance against my call side, whose short leg is at the -32 delta strike.
This doesn't increase buying power effect, since the 2 x 5 is equivalent to the 1 x 10 on the call side.
The end result is a 2 x 210/2 x 215/255/265 iron condor, -5.79/3.42 delta/theta on which I've netted 3.36 in credits.
Comments: Part two of delta adjustment trade ... .
Instead of rolling up the 205/215 short put vertical, I closed it out (See Post Below), and then re-erected a 2 x 5 to delta balance against my call side, whose short leg is at the -32 delta strike.
This doesn't increase buying power effect, since the 2 x 5 is equivalent to the 1 x 10 on the call side.
The end result is a 2 x 210/2 x 215/255/265 iron condor, -5.79/3.42 delta/theta on which I've netted 3.36 in credits.
Trade closed manually:
With a 10:1 split here shortly, closing this out for 3.91, a .55 ($55) loser.
