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...
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...
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:...
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...
-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
+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.
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.
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
-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.
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.
+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.
Taking a little shot here on GLD to the upside. BUY +1 DEBIT SPREAD GLD 18 NOV 16 122/123 CALL/CALL @ 0.42
We're still currently inside this weekly mother bar. It does look like the path of least resistance is now to the downside, but we'll keep up with this chart to see in the upcoming weeks.
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...
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...
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.
Gold was nerve-racking this week. Up and down and up and down. Then throw in Friday's news and it finally gained some strength. It still wasn't able to close out of this consolidation of the triangle, however. I would expect some more gyration before eventually retesting the green area again.
This past week, R2K sold off nicely below this 1200 level. This week on some strength and retest, I may sell calls/spreads or try my hand at some debit spreads to the downside.