Some residual IV here from recent earnings of holdings in the ETF.
-1 Sep21 35/37 strangle for $1.72 cr.
Risk: 2x cr received or continue to roll put
Profit: 50% cr rec or if IV drops with too much time left to hold risk.
Some Iv hiding out in the Tech sector due to the middle of the earnings season.
Sold -1 Sep21 70/73 strangle for $2.43 cr.
Risk: 2x cr received to upside, possibly continue to roll put to the downside.
Profit: 50% cr received or manual close on some quick profits (IV collapse due to earnings?)
Twitter cratered a bit after earnings, so taking advantage of the IV spike.
-1 Sep21 $33/38/39 Jade Lizard for $1.63. No upside risk on this play (will make $63 if expires over $39), $31.37 downside breakeven.
Risk: 2x cr received or continue to roll the put out.
Profit: 50% cr received
Getting long homebuilders here at support.
-1 Sep21 $39 put for $.84 cr.
Risk: 2x cr received or I'll continue holding and rolling.
Profit: 50% cr received or continue to roll.
Notional Value: $3900/contract
Earnings season is imminent here for most companies. A few of the industrials have been reporting recently too. I decided I'd throw a little premium on in here.
-1 Sep21 $75 straddle for $3.43 cr.
Risk: 1.5-2x credit received
Profit: 25-30% of credit received.
If we get a down move, I may just take the call off and then roll out the put. We'll see how this...
Looking for some high IV trades to enter into the mix here.
-1 Sep21 33/40 strangle for $1.34.
Risk: 2x credit received (worst case, take stock)
Target: 50% profit
Depending on how things go, I may keep rolling this position on in different ways, reacting to how the market moves.
Sticking to adding some short delta here until we are able to start breaking out more...
-1 Aug17 170/174 call spread, with a financed $162 put - overall $.10 cr.
The trade has unlimited profits to the downside, in theory, but very little chance in reality.
I have set a stop loss at $171, to equal around a $100/contract loss. I will probably look to manage this...
Earnings coming up soon and I like JD overall. Low part of the range after a great 2017.
I went with a synthetic covered call, selling the Aug17 $39 put for $1.90 cr. This trade is around a 5% cash ROC within the next 35 days.
I'll go for 50% W or continue rolling this position out, collecting credit through time.
IV isn't extremely high, but has spiked up a bit in Utilities, so I'm looking at placing a strangle here.
-1 Sept21 50/54 strangle for $1.14 cr. I will likely manage this position at 50% and we'll deal with specific loss mgmts when we get there.
Adding just a bit of short delta here. -1 Aug17 267/269/280/285 Iron Condor for $1.95 cr.
I have $.05 of risk to the downside on this play. I'll manage at 50% or if we get a daily close above my upside breakeven.
Trade setup on chart.
Executed the trade for a $.37 credit.
The call spread in July is a bit of a moon shot, but the trade is setting up currently to be a 22.3% ROC by Oct if it expires worthless. I may continue to add call spreads if possible here.
Banks have sold off here and I believe if the market can start to move again, financials will recover. I structured a Super bull for this trade.
Trade: In chart.
Overall, $.46 credit on the trade.
Current risk: $454
Current R/R: 10.2% ROC (likely to increase if I can capture profits in the call spread.