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MCL1!

MCL1!

Closing (Margin): /MCL March 16th 65/101 Short Strangle ... for a .94 debit. Comments: Taking profit where I can ... . Filled this pair of legs for a total of 1.27 in credits. Closing out here for .94 results in a .33 ($33) profit. The remaining position leans slightly short, so I may go ahead and do a delta adjustment here.

by NaughtyPines

Closing (Margin): /MCL March 16th 58/108 Short Strangle ... for a .48 debit. Comments: Collected a total of .69 in credits for this pair of legs. Closing out here for a small (.21/$21) winner to free up buying power in the event I have to do an additive adjustment later. Net position leans a smidge short delta, so don't need to do an adjustment here at the moment.

by NaughtyPines

Closing (Margin): /MCL March 16th 61/103 Short Strangle ... for a .73 debit. Comments: Net delta neutral subtractive trade to take off a little risk here, particularly since we still have quite of bit of time to go in the cycle (55 DTE). Filled the legs for a total of 1.03 in credits; closing out here for a .73 debit results in a .30 ($30) profit.

by NaughtyPines

Closing (Margin): /MCL February 15th 67 Short Put ... for a .27 debit. Comments: Since I've exited the position that this leg was providing a little long delta assist to, closing it out here for a small winner. Filled for a .54 credit; out here for a .27 debit. .27 ($27) profit. I'm now all out in the March cycle which, for the moment, is net delta flat to slightly short.

by NaughtyPines

Closing (Margin): /MCL February 15th 77/84 Short Strangle ... for a 3.89 debit. Comments: Taking a small loser on this tight short strangle with 27 days to go, which I'm fine with since I'm net up on plays in this instrument for the February cycle. Filled the legs for a total of 3.32 in credits; closing out here for 3.89 results in a .57 ($57) loss.

by NaughtyPines

Opening (Margin): /MCL March 16th 69/101 Short Strangle ... for a 1.70 credit. Comments: An additive delta adjustment trade, selling the +15 delta put at the 69 and the -9 delta call at the 101.

by NaughtyPines

Opening (Margin): /MCL March 16th 58/96 Short Strangle ... for a 1.17 credit. Comments: An additive delta adjustment trade in the March cycle, selling the +5 delta put and the -13 delta call, which brings my March position back to net delta flat.

by NaughtyPines

Opening (Margin): /MCL March 16th 65/107 Short Strangle ... for a 1.09 credit. Comments: Here, delta balancing my March position by selling a +9 delta put at the 65 strike and a -6 delta call at the 107. I'll look to sell more "normal" strikes for my typical setup once I clean up the remainder of my Feb positions.

by NaughtyPines

Opening (Margin): /MCL February 15th 77 Short Put ... for a 2.13 credit. Comments: An additive delta adjustment trade, which is a functional roll-up of what was my 74.5 short put. At this point, I'm fine with taking a loss on this very narrow short strangle, so long as I'm net up for the cycle on my /MCL trades, but would naturally prefer to scratch it out. Still keeping on the 67 short put for the moment, as it's providing a smidge of long delta.

Long

by NaughtyPines

Closed (Margin): /MCL February 15th 74.5 Short Put ... for a 1.48 debit. Comments: Doing a functional roll up with this leg, which I got paid 1.76 in credit for. I'm first closing this leg out for a .28 ($28) realized gain and then will re-erect a "delta appropriate" short put higher up the strike ladder to delta balance against my 84 short call.

Long

by NaughtyPines

Closing (Margin): /MCL February 15th 68/93 Short Strangle ... for a .98 debit. Comments: Although I've still got 30 days to go with this, taking it off in small profit without affecting net delta much (the 68 was at the +11 delta, the 93 at the -10), leaving me with the fairly narrow 74.5/84 to manage in the Feb cycle, along with a far out-of-the-money short put at the 67. I'll leave that short put on here since I still need its long delta at the moment. Collected a total of 1.24 in credits for the 68/93, so closing out here for .98 results in a .26 ($26) profit. I generally like to wait for at least .50 ($50) to take these off, but am already up decently on my /MCL trades for the month, so feel okay with taking small profit here, simplifying the position, and freeing up the buying power to get ready to move into the next cycle.

by NaughtyPines

Closed (Margin): /MCL March 16th 55/109 Short Strangle ... for a .49 debit. Comments: Collected a total of .74 in credits for the legs of this puppy. Taking small profit here (.25/$25) just to say "I realized some gains today."

by NaughtyPines

Opened (Margin): /MCL February 15th 74.5 Short Put ... for a 1.75 credit. Comments: Long delta additive adjustment. Functionally rolling up the 71 put that I just closed out for a profit.

Long

by NaughtyPines

Closed (Margin): /MES February 15th 71 Short Put ... for a 1.02 debit. Comments: Opened for a 1.63 credit; closing this leg here results in a .61 ($61) profit.

by NaughtyPines

Opening (Margin): /MCL March 16th 61/109 Short Strangle ... for an .85 credit. Comments: An additive delta adjustment trade, selling the -4 delta call and the 8 delta put against my +4 delta put and -8 delta call. I probably really didn't need to do an adjustment here given the low delta of the sides I had on in March, but wanted to collect some additional credit, particularly since the time left in the February cycle is winding down.

by NaughtyPines

Opening (Margin): /MCL February 15th 67 Short Put ... for a .54 credit. Comments: An additive long delta adjustment trade, selling the +10 delta put. February position still leans a smidge short here with 33 days to go. I'm indicating that this is "long" here because the delta of the position is long, not because I think oil goes up from here.

Long

by NaughtyPines

Closing (Margin): /MCL February 17th 73/86 Short Strangle .... for a 3.15 debit. Comments: Received a total of 3.17 for the legs of this short strangle. All but scratching it out here, since they're a pair of my most at-risk (i.e., closer to at-the-money) strikes.

by NaughtyPines

Opening (Margin): /MCL February 15th 68/93 Short Strangle ... for a 1.24 credit. Comments: An additive long delta adjustment trade, selling the 68P at the +14 delta strike and the 93C at the -9, giving me net +5 in delta to flatten the directionality of the position. It still leans slightly short, just not as short as it was before.

by NaughtyPines

Closed (Margin): /MCL February 15th 66/92 Short Strangle ... for a 1.07 debit. Comments: Got paid 1.07 for the 66 and .50 for the 92 for a total of 1.57 in credits. Closed it out today for a .50 ($50) profit.

by NaughtyPines

Opening (Margin): /MCL February 15th 71/92 Short Strangle ... for a 2.13 credit. Comments: An additive delta adjustment trade, selling the 23 delta put and the 11 delta call against my 24 delta call and 12 delta put, resulting in a net delta neutral position.

by NaughtyPines

Opening (Margin): /MCL February 15th 73 Short Put ... for a 2.20 credit. Comments: Selling a 30 delta put against my 30 delta call at the 84 strike to replace the short put I took off earlier.

Long

by NaughtyPines

Closed (Margin): /MCL February 15th 68 Short Put ... for a 1.03 debit. Comments: Opened this leg for a 1.68 credit; closing out here for 1.03 results in a .65 ($65) realized gain.

by NaughtyPines

Opening (Margin): /MCL February 15th 68/86 Short Strangle ... for a 2.65 credit. Comments: An additive delta adjustment trade, selling the 23 delta put and the 18 delta call.

by NaughtyPines

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