NaughtyPines

ROLLED TROUBLED SPY SHORT CALL VERTS/CLOSED IRON CONDORS ON DIP

AMEX:SPY   SPDR S&P 500 ETF
I was busy today, scrambling around this dip, and taking advantage of the opportunity to do two things: (1) Roll out and up any SPY             short call credit spreads that were "troubled" and (b) Reduce exposure to the market by closing out any original IC's (iron condors without a side that had been rolled) that could be bought for a small profit or for scratch. (

Ordinarily, I try to make sure that I can receive credits for the sale of an oppositional side that exceed the debits paid, but I was in such a frenzy to take advantage of this potentially fleeting occasion of weakness (who knows) that I need to look over my options chains and see that the credits received for the sale of oppositional put sides were sufficient or not ... . (Hey, there's all weekend to putz with that ... .)

In addition to moving some call side out of harm's way, my goal was also to reduce the number of SPY             setups I have on and transition over to SPX             and RUT, which settle to cash, which obviates the necessity of rolling merely because of the presence of a heightened assignment risk (e.g., around ex-dividend dates). These two instruments take some getting used to, but I think the lack of assignment risk trumps, well, pretty much everything else ... .

Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out