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
57 % stocks 22 % forex 8 % commodities 13 % other
Top Mentioned Symbols
SPY 10% | 6 IWM 6% | 4 XRT 6% | 4 EURUSD 3% | 2
Benji Benji PRO SPY, D, 3 days ago
SPY: SPY Synthetic Strangle
34 0 5
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, 3 days ago
MU: MU Straddle
42 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 , 4 days ago
AAL: Short Put Spread - AAL
11 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, 4 days ago
XLK: XLK Synthetic Straddle
15 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, 5 days ago
XLE: XLE Iron Fly
17 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, 5 days ago
RUT: RUT Iron Condor
10 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, 12 days ago
OIH: OIH Iron Fly
11 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 , 14 days ago
RIG: RIG Diagonal
46 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, 17 days ago
ULTA: ULTA Iron Fly
26 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 , 20 days ago
SPY: Adding some long delta - SPY
90 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 , 20 days ago
XRT: XRT Put Spread [ROLL]
9 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, 21 days ago
CRM: CRM Iron Condor
39 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, 24 days ago
XRT: XRT Iron Condor
20 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 , a month ago
IYR: IYR Super Bull
10 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, a month ago
TBT: TBT Synthetic Straddle
12 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. ...

Benji Benji PRO IWM, D, a month ago
IWM: IWM Iron Condor
40 0 3
IWM, D
IWM Iron Condor

IWM had more IV than the other indices and I needed to keep establishing some positive theta for April. Trade Setup: -1 IWM 126/134/147/151 Iron Condor @ $1.49 Max Win: $149 Max Loss: $651 ($651 to the downside, only $251 to the upside) Breakevens: 132.51 & 148.49 Trade Management: I will look to take around 50% in the trade, or $75. Likely will roll the ...

Benji Benji PRO GDXJ, D, a month ago
GDXJ: GDXJ Synthetic Straddle
42 0 4
GDXJ, D
GDXJ Synthetic Straddle

Junior Minors have been beat up a bit lately, looking for some sideways action for a bit. Trade Setup: -1 GDXJ 29/37/37/45 Iron Fly (Synthetic Straddle) @ $4.34 DTE: 51 Max Win: $434 Max Loss: $366 Break evens: 32.68 & 41.34 Trade Management: 25% or ~$108 on the trade for profit management. I will look to take this as a full loser if we get some whipsaw, but I ...

Benji Benji PRO NVDA, D, a month ago
NVDA: NVIDIA Iron Condor
126 0 7
NVDA, D
NVIDIA Iron Condor

Establish some positions in higher IVP. Wasn't the highest on the list, but it is in play and had at least some IV. Trade Setup: - 1 NVDA Apr 21 85/90/120/125 Iron Condor @ $1.11 DTE: 53 Max Win: $111 Max Loss: $389 Breakevens: 88.89 & 121.11 Trade Management: Look to take 50% winner or about $55 out of this. I will likely roll the untested side up if we get a ...

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