Opening (IRA): SPY October 28th 358/January 20th 420 LPD*

... for a 49.44 debit.

Comments: Re-erecting my SPY short delta hedge here against my long delta portfolio, buying the back month 90 delta in the January monthly (98 days), and selling the front expiry 30 (14 days). 49.44 cost basis with a 370.56 break even on a 62 wide. 12.56 ($1256) max profit; 6.28 ($628) 50% max.

Will look to roll out the short put aspect to reduce cost basis in the setup over time.

* -- Long Put Diagonal.

Trade active:

Rolled the October 28th 358 short put to the November 4th short put for a 2.39 credit. 47.04 cost basis with a 372.95 break even on a 62 wide. (And I just noticed the label on the short put leg is incorrect; it should've been the October 28th 358, not the 254, and should have been right at 358).

Trade active:

Rolled the Nov 4th 358 short put to the Nov 11th 358 for a 1.28 credit at the open in weakness; 45.76 cost basis with a 374.24 break even on a 62 wide.

Trade active:

Rolled the November 11th to the November 18th "as is" for a 1.04 credit. 44.72 cost basis with a 375.28 break even on a 62 wide.

Trade active:

Rolled the Nov 18th 358 to the November 25th 369 for a 1.30 credit. 43.42 cost basis with a 376.58 break even on a 51 wide. Basically trying to keep these around -60 delta/contract without narrowing them to a width that is less than my cost basis.

Trade active:

Rolled the November 25th 369 to the December 2nd 369 for an .88 credit. 42.54 cost basis with a 377.46 break even on a 51 wide.

Trade active:

Rolling these ahead of the Thanksgiving holiday: rolled the December 2nd 369 to the December 9th 369 for a .60 credit. 41.94 cost basis with a 378.06 break even on a 51 wide.

Trade active:

Rolling on weakness. From the Dec 9th 369 to the Dec 16th 377 for a 1.71 credit. 40.23 cost basis with a 379.77 break even on a 43 wide. Keeping this around -60 delta/contract.

Trade active:

Rolled the Dec 16th 377 to the Dec 23rd 379 for a .67 credit. 39.56 cost basis with a 380.44 break even on a 41 wide.

Trade active:

Rolled the Dec 23rd 379 to the Dec 30th 379 for a .54 credit. Cost basis of 39.02 with a 380.98 break even on a 41 wide.

Trade active:

Rolled the Dec 30th 379 to the Jan 6th 379 on further weakness. Cost basis of 37.76 with a 382.24 break even on a 41 wide.

Trade active:

And ... while I have the opportunity to do so cheaply, rolling the Jan 20th 420 to the Feb 17th 420 for a .31 debit. Cost basis of 38.07 with a 381.93 break even on a 41 wide.

Trade active:

Rolling the Jan 13th 379 to the Jan 13th 379 for a 2.02 credit. Cost basis of 36.05 with a 383.95 break even on a 41 wide.

Trade active:

Rolling the Jan 13th 379 to the Jan 20th 379 for a .75 credit. 37.32 cost basis with a 382.68 break even on a 41 wide.

Comment:

Oops ... . The last entry should have reduced (not increased) cost basis by .75, resulting in a 35.30 cost basis with a 384.70 break even on a 41 wide.

Trade active:

Rolled the Jan 20th 370 to the Jan 27th 380 for a .75 credit. 34.55 cost basis with a 385.40 break even on a 40 wide.

Trade active:

As with my IWM and QQQ short delta hedges, rolled the short put aspect of this diagonal from the Jan 27th 380 to the Feb 3rd 380 for a 1.80 credit. 32.75 cost basis with a 387.25 break even on a 40 wide.

Trade active:

Rolled the Feb 3rd 380 to the Feb 10th 385 for a 1.44 credit. 31.31 cost basis with a 388.69 break even on a 35 wide.

Trade active:

Rolled the Feb 10th 385 to the Feb 17th 390 for a 1.75 credit. 29.56 cost basis with a 390.44 break even on a 30 wide. Will look to roll the long aspect out for duration in the next week or so.

Trade active:

You gotta do what you gotta do ... . Rolling the Feb 17th 420 to the March 17th 439 for a 16.43 debit. Also rolled the short put aspect up to around the 30 delta from the 390 to the 407 for a 1.93 credit. 44.06 cost basis with a 394.94 break even on a 32 wide. A case of the market just moving too far too fast ... .

Trade closed manually:

With the short put ITM, closing here for 26.72 credit rather than rolling out the shortie, so that I can reset the setup with the back month in April.