Benji

PRO
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Last visit Joined a year ago @coltj5
I trade volatility because I like it when I can win when I'm wrong.
Markets Allocation
38 % stocks 33 % forex 13 % commodities 18 % other
Top Mentioned Symbols
IWM 7% | 3 SPY 7% | 3 EURUSD 5% | 2 SPX 5% | 2
Benji Benji PRO QQQ, D, 3 days ago
QQQ: QQQ Broken Wing Butterfly
39 0 4
QQQ, D
QQQ Broken Wing Butterfly

The account was leaning a little short delta from the SPY BWB Call Butterfly and today's gap up, so I wanted to add some positive theta and long delta to rebalance. All of these BWBs are essentially synthetic short calls or short puts, except they add just a little more bang for your buck and are little less heavy on the buying power for the little guy. Trade ...

Benji Benji PRO FXE, D, 4 days ago
FXE: FXE Iron Fly v2
11 0 6
FXE, D
FXE Iron Fly v2

Back to the well in the Euro since Vol is pretty low all over the place. This will extend my break evens as well on the entire position. Trade Setup: -1 FXE Mar 17 100/102/102/104 Iron Fly @ 1.32 DTE: 23 Max Win: $132 Max Loss: $68 Breakevens: 101.68 & 103.32 Trade Management: 25% Winner (~$33); Full loser or will roll out ITM/tested side if on the dance ...

Benji Benji PRO SPY, D, 9 days ago
SPY: SPY Put Broken Wing Butterfly
65 0 5
SPY, D
SPY Put Broken Wing Butterfly

Added one more trade to increase theta. I now have on a synthetic strangle on SPY. Trade Setup: - 1 SPY Mar 17 230/232/232/233 Put Butterfly @ 0.17 DTE: 28 Max Win: $117 Max Loss: $83 Breakeven: $230.83 Trade Management: Just looking to capture some non movement or movement to one side here now, when paired with the other BWB. Fits Risk parameters and I'll look ...

Benji Benji PRO SPY, D, 10 days ago
SPY: SPY Broken Wing Butterfly
81 0 4
SPY, D
SPY Broken Wing Butterfly

Getting my # of occurrences in a small account. SPY has been on a tear lately and want to capture a bit of the upside, without any risk to the downside. Trade Setup: -1 SPY Mar 17 236/237/237/239 Call Butterfly @ 0.19 DTE: 29 Max Win: $119 Max Loss: $81 Breakeven: $238.19 Trade Management: Best case scenario, SPY trades around 237 near March expiration for ...

Benji Benji PRO XRT, D, 11 days ago
XRT: XRT Iron Fly
21 0 5
XRT, D
XRT Iron Fly

Still looking for any IV in the market - XRT had a 35 IVP, so I thought I would put something small on. Focused on minimal BP exposure during these tough times in IV, but I have to keep a decent # of occurrences up regardless. Trade Setup: - 1 XRT Mar 17 42/44/44/46 Ironfly @ $1.34 DTE: 30 Max Win: $134 Max Loss: $66 Breakevens: 42.66 and 45.34 Trade ...

Benji Benji PRO IWM, D, 12 days ago
IWM: IWM Broken Wing Butterfly
28 0 2
IWM, D
IWM Broken Wing Butterfly

Taking advantage of a little IV in the Russell with a Put BWB. Trade Setup: -1 IWM Mar 17 134/136/136/137 Put Butterfly @ 0.18 DTE: 31 Max Win: $118 Max Loss: $82 Breakeven: $134.82 Trade Management: I will look to take 50% off this trade if we come down to $136.00 in the upcoming cycle, so around $59. If the market decides to crash, I am comfortable with the ...

Benji Benji PRO FXE, D, 13 days ago
FXE: FXE Iron Fly
41 0 8
FXE, D
FXE Iron Fly

Just looking for some premium around the market on these up days. Found an "okay" IV in FXE. Trade setup: - 1 FXE Mar 17 101/103/103/105 Iron Fly @ 1.37 DTE: 32 Max Win: $137 Max Loss: $63 Trade Management: 25% Winner or ~ $35; Full loser or will roll out ITM/tested side if on the dance floor. Green is profit zone and vertical black line represents expiration.

Benji Benji PRO AAPL, D, Short , 3 months ago
AAPL: AAPL Put Spread
85 0 5
AAPL, D Short
AAPL Put Spread

+1 AAPL 16 Dec 16 110/112 Debit Put Spread @ .91 Shorting AAPL here on it's last little run up. Max Profit: $1.09 ($109) Max Loss: $.91 ($91) Target: ~.55 or $55. Full profit is achieved if AAPL stays below 111.09 at expiration, so I just used the green zone to represent this.

Benji Benji PRO IWM, D, Short , 3 months ago
IWM: IWM - Short Call Spread
56 0 5
IWM, D Short
IWM - Short Call Spread

-1 16 Dec 16 IWM SHORT CALL SPREAD 132/135 @ 0.84 ($84) Shorting IWM here on a nice daily candle at some resistance. I'm looking for a possibly exhaustion of Small caps here and turn around into a recognizable pattern Max Reward: $84 Max Risk: $216 Target: 50% management

Benji Benji PRO ZB1!, D, 3 months ago
ZB1!: /ZB Strangle
28 0 3
ZB1!, D
/ZB Strangle

Selling IV in Bonds.... I meant to sell Jan, but sold Feb instead...oh well. Here's the trade: -1 ZBH7 Feb 17 150/161 Strangle @ 2'25" Max Profit = $2,390.63 Risk: 2 Std. Dev. outside strikes Going for 50% profit as target

Benji Benji PRO SPY, D, 3 months ago
SPY: SPY - IRON FLY
84 0 4
SPY, D
SPY - IRON FLY

-1 SPY 16 Dec 16 198/208/208/218 IRON FLY @ 7.40 Max Profit: 7.40 ($740) Max Loss: 2.60 ($260) Break Evens: 215.40 & 200.60 I'll probably take profit around 25-30% here after the binary event on Nov 8th.

Benji Benji PRO SPX500, D, 3 months ago
SPX500: SPX Butterfly
72 0 2
SPX500, D
SPX Butterfly

+1 SPX 16 Dec 15 2080/2090/2100 Put Butterfly @ .35 Risk: .35 ($35) Reward: 9.65 ($9.65) Look to take this off around 10-15% or so.

Benji Benji PRO IWM, D, 3 months ago
IWM: Iron Fly on IWM
56 0 4
IWM, D
Iron Fly on IWM

Neutral Stance on IWM. -2 16 Dec 16 IWM Iron Fly 108/115/115/112 @ 4.96 ($992) Risk: 4.08 ($408) Target: 2.50 ($250) Breakevens and Profit zones in Green.

Benji Benji PRO XLV, D, 3 months ago
XLV: Iron Fly on XLV: Healthcare
72 0 6
XLV, D
Iron Fly on XLV: Healthcare

Took a Position here on XLV with an IRON FLY. -2 XLV 16 Dec 16 62/67/67/72 Put/Put/Call/Call @ 3.13 Credit: 3.13 ($626) Risk: 1.87 ($374) Target: ~2.33 ($160) Break evens are in green.

Benji Benji PRO GLD, D, Long , 3 months ago
GLD: GLD, Debit Spread
81 0 5
GLD, D Long
GLD, Debit Spread

Taking a little shot here on GLD to the upside. BUY +1 DEBIT SPREAD GLD 18 NOV 16 122/123 CALL/CALL @ 0.42

Benji Benji PRO AAPL, M, 3 months ago
AAPL: AAPL Falling from the tree??
55 0 4
AAPL, M
AAPL Falling from the tree??

This monthly bar does not look so hot for AAPL. With 1 trading day left to go, we're going to watch and see where this candle closes. If we close here, I would expect another retest back up into this grey zone and wait for an entry to sell calls or put on some debit spreads 50% up the wick. This is a more conservative entry. A longer term, more aggressive entry ...

Benji Benji PRO D61!, D, 3 months ago
D61!: Loonie Short?
7 0 2
D61!, D
Loonie Short?

CAD hardly broke this descending wedge this week and finished this week right at support. The wonderful market left itself right here as the USD slumped a bit from resistance to finish the week. We would look to short on a break and retest of the green zone. If we rally back into the wedge, I want to see what happens near that down trend line. A rejection would ...

Benji Benji PRO CL1!, D, 3 months ago
CL1!: Black Gold
85 0 3
CL1!, D
Black Gold

I think we can expect some two-sided markets in oil for days, maybe weeks to come. I know the OPEC meeting is around a month away, so that maybe will give a push to where we might be headed next. If we break the $48 level, I'd expect that we mosey on down to close to the $40 level and see who wants some more.

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