NaughtyPines

BOUGHT SPX JULY 22ND SPV TO CLOSE, ROLLED CALL SIDE FOR DURATION

TVC:SPX   S&P 500
4 months ago
1. Closed the July 22nd 2020/2030 short put vertical for a .15 debit, as it's near worthless and done its job.

2. Rolled the July 22nd 2110/2120 call side out a week to the July 29th 2115/2125 and slight strike improvement for a .75 debit. The improvement isn't much, but I like to do these improvements small and over time until I get the required movement to exit the entire setup.

3. Sold the July 29th 2085/2095 short put vert to finance the call side roll for a 1.05 credit.

As with my NDX setup, what I need now is some movement back toward the call side to exit the entire setup at or above my "scratch point."
4 months ago
Comment: Here's the full "chain" for this trade to-date:
6/24 Opening: July 22nd 1920/1930/2140/2150 for a 2.80 cr.
6/27: Roll: 2140/2150 to 2110/2120 for .80 cr.
6/29: Roll: 1920/1930 to 1965/1975 for .55 cr.
7/1: Roll: 1965/1975 to 2020/2030 for .60 cr.
7/12: Close 2020/2030 for .15 db.
7/12: Roll: 2110/2120 to Jul 29 2115/2125 for .75 db.
7/12: Open: July 29 2085/2095 short put vert for 1.05 cr.
Scratch Point: 2.80+.80+.55+.60-.15-.75+1.05=4.90
jesse8108
4 months ago
Thx for sharing, I have a question about the 'roll', does that means sell the old one and than buy a new one? Thank you sir!
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NaughtyPines jesse8108
4 months ago
Yep. Basically, you close out the old spread and open a new one in a different expiry, albeit in a single transaction ... .
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jesse8108 NaughtyPines
4 months ago
Thank you very much!
Reply
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