... for a .20 debit. Comments: More taking off stuff approaching worthless on this volatility contraction/rip. Collected a total of 6.40 in credits with rolls. (See Post Below). Closing out here results in total realized gains of 6.20 ($620).
... for a .20 debit. Comments: Cleaning up stuff that is approaching worthless ... . Opened for a 1.73/contract credit. (See Post Below). Closing out here results in a profit of 1.53 ($153)/contract. Still left with the April 29th and May 6th "rungs."
... for a $215 debit. Comments: I opened these for a $25/contract debit wayyy back in February of 2021 (See Post Below) when /GE was trading above 99.75, betting that -- at some point -- Eurodollar futures would return to their prepandemic levels and gave the play oodles of time to work out. Closed them on Friday for $210/contract with 268 days to go, with /GE...
... for a 4.40 credit. Comments: I would like IV to be higher and SPX to be weaker, but can't have everything. Selling the 20's and erecting my longs out from there. 4.40 credit on buying power effect of 45.60; 9.6% ROC at max 4.8% at 50% max. Will generally look to take profit at 50% max, but will also look to manage the two aspects of this setup (a short...
... for a 2.35 credit. Comments: And here's my "clean" XBI setup after having scratched out my previous position. High IVR/high IV at 61/41. Selling around the 16 delta on both sides. 2.35 on buying power of 9.05 (on margin); 26.0% ROC as a function of buying power effect; 13.0% at 50% max.
... for a 4.09 credit. Comments: Flattening net delta directionality by rolling the short put to the strike that is one-half the delta of the call (which is at the 454 strike). Total credits collected of 6.96 (See Post Below) plus 4.09 equals 11.05.
... for a 3.95 credit. Comments: Rolling up the put side to the strike that's approximately one-half the delta of the call side (which is at the 361 strike) to reduce net delta directionality. Total credits collected of 5.85 (See Post Below) plus 3.95 equals 9.80.
... for a 12.80 credit. Comments: Chasing my tail a little bit with this one. Total credits collected of 70.48 on a 60 wide inverted, so I can still make money on a finish between my break evens which are now at 290.48 and 209.42, but am basically just looking to scratch it out at this point. Previously, it was functionally as though I was long stock at 265...
... for an 18.71 debit. Comments: Wee! Scratching out my XBI position here, which will free up the buying power for a clean setup. Total credits collected of 18.71; closing it out here results in a "non loss."
... for a 3.75 credit. Comments: Unfortunately, shorter duration isn't paying what I would like to see in SPY, so rolling it out to the monthly <16 delta strike paying at least 1% of the strike price in credit. I've collected a total of 4.00 (See Post Below), plus the 3.75 here for a total of 7.75 with the 408 currently paying 3.91, so I've realized gains of...
... for a 2.74 credit. Comments: With only .36 left in this one, rolling out to the <16 delta strike that's paying at least 1% of the strike price in credit. I've collected a total of 4.46 (See Post Below) plus 2.74 for a total of 7.20 relative to a current price for the May 6th 318 of 3.06 or so; 4.14 ($414 of realized gains). Still have April 14th, April...
... for a .13 debit. Comments: Opened for 1.73, (See Post Below); closing it out here for a 1.60 ($160) profit. Still have April 22nd, April 29th, and May 6th rungs on which I'll either close or roll out as I get to them from a duration standpoint.
... for a 1.69 credit. Comments: With only .17 left in the April 8th 175, rolling it out to the <16 delta May 6th strike paying at least 1% of the strike price in credit. Total credits collected: 4.08 (See Post Below) plus the credit received here of 1.69, for a total of 5.77 relative to the May 6th 185 short put value of 1.81, so I've realized gains of 3.96...
... for an 81.05 debit/contract. Comments: Adding in a short delta hedge here to flatten net delta in my portfolio, buying the back month 90 delta and selling the front month 50. It has -41.53 worth of short delta/contract associated with it and a break even of 438.95. I'll look to work it like a covered put, rolling the short option aspect out for duration...
... for a 1.84 debit. Comments: Filled for a 3.68 credit. (See Post Below). Closed out here via a good-until-cancelled order to take profit at 50% max. 1.84 ($184) profit.
In previous market environments, my go-to strategy in SPX was the short put vertical, but if you've been around the past several weeks and had those on, you probably did a bit of sweating as price moved into the spread, took some loss on those that were fully in the money (only to scream as price whipped back the other way), and or wished that you had a setup on...
... for a .27 debit. Comments: Opened this for a 1.98 credit. (See Post Below). Out here for a net profit of 1.71 ($171). Still have April 8th, 14th, 22nd, and 29th rungs on.
... for a .67 debit. Comments: Rolled this a number of times, collecting a total of 10.12 in credits along the way. (See Post Below). Closing it out here for .67 results in a total of 9.45 ($945) in realized gains.