Benji

PRO
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Joined coltj5
I trade volatility because I like it when I can win when I'm wrong.
Markets Allocation
59 % stocks 21 % forex 8 % commodities 13 % other
Top Mentioned Symbols
SPY 9% | 6 IWM 7% | 5 XRT 6% | 4 EURUSD 3% | 2
Benji Benji PRO TLT, D,
TLT: TLT Synthetic Straddle
34 0 6
TLT, D
TLT Synthetic Straddle

Trade Setup: -1 TLT May 19 114/122/122/130 Synthetic Straddle @ $4.00 DTE: 53 Max Win: $400 Max Loss: $400 Breakevens: $118 & $126 Trade Management: 25% profit; Full loser, will take off near worthless side if we test an extreme. Green zone is profit; Vertical black bar is expiration.

Benji Benji PRO XLF, D,
XLF: XLF Synthetic Straddle
24 0 6
XLF, D
XLF Synthetic Straddle

Trade Setup: -1 XLF May 19 20/23/23/27 Synthetic Straddle @ $1.26 DTE: 53 Max Win: $126 Max Loss: $126 (1x credit received) Breakevens: $21.74 & $24.26 Trade Management: 25% profit; 1x credit received loss Green is profit zone; Vertical black bar is expiration.

Benji Benji PRO IWM, D,
IWM: IWM Synthetic Straddle
22 0 5
IWM, D
IWM Synthetic Straddle

Trade Setup: -1 IWM May 19 123/133/133/143 Synthetic Straddle @ $5.84 DTE: 53 Max Win: $584 Max Loss: $416 Breakevens: $127.16 & $138.84 Trade Management: 25% profit; Full loser, will eliminate a side if near worthless. Green is profit zone; Vertical black bar is expiration.

Benji Benji PRO SPY, D,
SPY: SPY Synthetic Strangle
45 0 6
SPY, D
SPY Synthetic Strangle

Trade Setup: -1 SPY May 19 225/235/236/245 Synthetic Strangle @ $5.51 DTE: 56 Max Win: $551 Max Loss: $449 Breakevens: $229.49 & $241.51 Trade Management: 25% winner; full loser. Will take off a side if nearly worthless; Will roll put out if ITM at expiration. Green is profit zone; Vertical black bar is expiration.

Benji Benji PRO MU, D,
MU: MU Straddle
63 0 3
MU, D
MU Straddle

Trade Setup: -1 MU May 19 23/29/29/35 Synthetic Straddle @ $3.01 DTE: 56 Max Win: $301 Max Loss: $299 Breakevens: $25.99 & $32.01 Trade Management: 25% profit; Full loser, will roll out short put spread if ITM at expiration. Green is profit zone; Vertical black bar is expiration.

Benji Benji PRO AAL, D, Long ,
AAL: Short Put Spread - AAL
24 0 6
AAL, D Long
Short Put Spread - AAL

Trade Setup: -1 AAL May 19 36/41 Short Put Spread @ $1.39 DTE: 57 Max Win: $139 Max Loss: $361 (will manage 2x credit, so $280) Breakeven: $39.61 Trade Management: 50% profit; 2x credit received as max loss; Will roll out if on the dance floor. Green is profit zone and up; Vertical black bar is expiration.

Benji Benji PRO XLK, D,
XLK: XLK Synthetic Straddle
31 0 8
XLK, D
XLK Synthetic Straddle

Trade Setup: - 1 XLK May 19 45/53/53/57 Synthetic Straddle @ 1.97. DTE: 57 Max Win: $197 Max Loss: $603 (theoretically), but will manage at 2x credit, so ~$200. Breakevens: $51.03 & $54.97 Trade Management: 25% profit; WIll risk full loser to upside and only 2x credit received to downside. I often will take off one of the sides when it becomes nearly worthless ...

Benji Benji PRO XLE, D,
XLE: XLE Iron Fly
25 0 6
XLE, D
XLE Iron Fly

Trade Setup: -1 XLE Apr 21 65/69.5/69.5/74 Iron Fly @ $2.33 DTE: 30 Max Win: $233 Max Loss: $217 Breakevens: $67.17 & $71.83 Trade Management: 25% profit; Full loser, possibly roll the ITM side out in time if my bias is the same near expiration. Green is profit zone; vertical black bar is expiration.

Benji Benji PRO RUT, D,
RUT: RUT Iron Condor
27 0 6
RUT, D
RUT Iron Condor

Slapping on some premium while we have a little elevated IV. Trade Setup: -1 Apr 20 RUT 1300/1305/1415/1420 Iron Condor @ $1.50 DTE: 29 Max Win: $150 Max Loss: $350 Breakevens: $1303.50 & $1416.50 Trade Management: 50% winner; Full loser, although I will roll the untested side down if I go ITM on one of the sides to reduce risk and collect more premium. Green ...

Benji Benji PRO OIH, D,
OIH: OIH Iron Fly
17 0 6
OIH, D
OIH Iron Fly

Little pops around in oil related underlyings. Trade Setup: - 1 OIH Apr 21 26/30/30/34 Iron Fly @ $1.95 DTE: 37 Max Win: $195 Max Loss: $205 Breakevens: $28.05 & $31.95 Trade Management: 25% or about $49-50. Full loser is also comfortable on the trade. Green is profit zone; Vertical black bar is expiration.

Benji Benji PRO RIG, D, Long ,
RIG: RIG Diagonal
54 0 11
RIG, D Long
RIG Diagonal

Okay, here's a little different play than normal. With IV low across much of the market, I am looking at getting long a few beat up stocks with some synthetics. Trade Setup: +1 RIG Apr 21/ Mar 24 11/13 Diagonal @ $1.50 DTE: Short Call: 11; Long Call: 39 Max Win: If at $13 or above by Mar 24 - $50 Undefined if Short Call expires worthless Max Loss: ...

Benji Benji PRO ULTA, D,
ULTA: ULTA Iron Fly
30 0 6
ULTA, D
ULTA Iron Fly

Playing the high IV here in Ulta. Trade Setup: - 1 ULTA Apr 21 260/275/275/290 Iron Fly @ $10.50 DTE: 42 Max Win: $1050 Max Loss: $450 Breakevens: $264.50 & $285.50 Trade Management: 25% profit in the trade or ~$263. I will take off either side if it comes down to being worthless to have on as risk, closer to expiration. I'm willing to take this as full loser ...

Benji Benji PRO SPY, D, Long ,
SPY: Adding some long delta - SPY
93 0 4
SPY, D Long
Adding some long delta - SPY

Just grabbing some long deltas here for my smaller account. Trade Setup: -1 SPY Apr 21 234/235 Short Put Spread @ $0.29 DTE: 46 Max Win: $29 Max Loss: $71 Breakevens: 234.71 Trade Management: 50% on the trade or full loser, which would entail rolling out. Green is profit zone (tiny, I know); vertical black bar is expiration.

Benji Benji PRO XRT, D, Long ,
XRT: XRT Put Spread [ROLL]
15 0 3
XRT, D Long
XRT Put Spread [ROLL]

This position is part of the roll I did in part of my smaller XRT Iron Fly. I closed out that position and established this one because we were winding down to expiration (about 2 weeks left) and I needed to do something with it. Off to a negative start for the year in Retail, but not too worried, nonetheless. Trade Setup: -1 XRT Apr 21 41/42 Short Put Spread @ ...

Benji Benji PRO CRM, D,
CRM: CRM Iron Condor
45 0 8
CRM, D
CRM Iron Condor

Trade Setup: -1 CRM Apr 21 72.5/77.5/85/90 Iron Condor @ $1.63 DTE: 46 Max Win: $163 Max Loss: $337 Breakevens: $75.87 & $86.63 Trade Management: 50% or around $82 for this one. I will roll the untested side of this spread to reduce risk and increase credit received if need be. Full loser if that is the ending case. Green is profit zone; Vertical black bar is ...

Benji Benji PRO XRT, D,
XRT: XRT Iron Condor
24 0 7
XRT, D
XRT Iron Condor

Back to the well in XRT - improving some breakevens on my straddle and adding some more theta. Trade Setup: -2 XRT Apr 21 39/42/45/48 Iron Condor @ $0.96 DTE: 49 Max Win: $192 Max Loss: $408 Breakevens: 41.04 & 45.96 Trade Management: 50% profit or $96. I'll likely roll the untested side if we get movement. Content with taking a full loser as well with this ...

Benji Benji PRO IYR, D, Long ,
IYR: IYR Super Bull
17 0 4
IYR, D Long
IYR Super Bull

With the market running, I thought I would continue to add long delta on an ETF that is possibly catching up. This isn't a normal setup that I would do, but it still takes on one of the principles of premium selling, which is reducing cost basis. Trade Setup: +1 IYR Apr 21 76P/79P/81C Super Bull @ $0.01 DTE: 50 Max Win: Theoretically Undefined Max Loss: ...

Benji Benji PRO TBT, D,
TBT: TBT Synthetic Straddle
14 0 4
TBT, D
TBT Synthetic Straddle

Caught a little IV increase in TBT and looking to deploy smaller amounts of capital here. Trade Setup: -1 TBT Apr 21 35/40/40/45 Iron Fly (Synthetic Straddle) @ $2.52 DTE: 51 Max Win: $252 Max Loss: $248 Break evens: 37.48 & 42.52 Trade Management: Profit target is 25% or ~$63. Small % of portfolio is used here so the first management I will do is a full loser. ...

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