Opening (Margin): /MCL March 16th 66/93 Short Strangle... for a 1.58 credit.
Comments: Selling the +10 delta put and the -17 delta call to delta balance.
Premiumselling
Opening (Margin): /MES February 28th 3870 Short Put... for a 32.50 credit.
Comments: After taking off a lower delta'd short put leg in profit, replacing it here with a short put with a strike that cuts my net delta in half or so.
Closed (Margin): /MES February 28th 3740 Short Put... for a 15.75 debit.
Comments: Filled this leg for a 24.25 credit. Closing it out here results in a realized gain of (24.25 - 15.75)/.2 = $42.50. I'll replace it with an appropriately delta'd short put higher up the ladder in a minute here ... .
Closing (Margin): /MES February 28th 3670 Short Put... for a 13.00 debit.
Comments: A subtractive delta adjustment here ... . Closing out its +9 delta flattens my net delta (which had begun to skew long), frees up buying power (I had an extra put unit on relative to call units), and results in a small profit of (18.50 - 13.00)/.2 = $27.50.
Opening (Margin): /MCL March 16th 70.5/97 Short Strangle... for a 1.80 credit.
Comments: Delta balancing my existing short strangle by selling the +15 put at the 70.5 and the -13 call at the 97.
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.
Assignment (Margin): NVDA 160 Short PutComments:
Total credits collected/realized gain of 11.56 ($1156), with the difference between 160 and current price (125.66) an unrealized loss.
Will look to sell call against on Monday with a starting cost basis of 160.00/share, as well as potentially covered strangle (short put + stock + short call). Unlike my QQQ 300 covered call (See Post Below), this one is on margin, where being in stock becomes a buying power hog relative to being in an options contract, so the motivation may look to exit at the earliest possible juncture for a scratch, rather than hang out in it endlessly. That being said, both NVDA and AMD are kind of "premium seller faves," since 30-day IV is decent a lot of the time.
I'll start out selling 160 calls against and then proceed to roll those mechanically at monthly opex so long as my cost basis remains above current price.
Opening (Margin): /MES February 28th 3890, 3925, 3940, 3960... short puts.
Comments: Replacing the short puts I stripped off in profit to delta balance what is now the -27, -31, -33, and -36 delta calls. The remaining -42 delta short call at the 4080 is only partially hedged, so position net delta still leans short.
Opened the February 28th 3890 for a 41.00 credit.
Opened the February 28th 3925 for a 49.25 credit.
Opened the February 28th 3940 for a 53.25 credit.
Opened the February 28th 3960 for a 59.25 credit.
Closed (Margin): /MES February 28th 3620, 3700, 3760, 3770 ... short puts.
Comments:
Filled the 3620 for a 18.00 credit; closed it here for a 10.25 debit. (18.00 - 10.25)/.2 = $38.75 profit.
Filled the 3700 for a 22.00 credit; closed it for a 15.25 debit. (22.00 - 15.25)/.2 = $33.75 profit.
Filled the 3760 for a 31.25 credit; closed it for a 20.75 debit. (31.25 - 20.75)/.2 = $52.50 profit.
Filled the 3770 for a 28.25 credit; closed it for a 22.00 debit. (28.25 - 22.00)/.2 = $31.25 profit.
Will re-erect short puts to delta balance ... .
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.
Rolling (IRA): QQQ January 20th 260 to March 31st 246 Short Put... for a 2.65 credit.
Comments: My most at-risk QQQ short put ... . Rolling it down and out to the quarterly. Collected 2.69 (See Post Below) plus the 2.65 here for a total of 5.34.
Rolling (IRA): IWM January 20th 169 Short Put to March 31st 159... for a 1.62 credit.
Comments: My most at risk short put strike in the small caps ETF ... . Rolling it down and out to the quarterly. Collected 1.75 (See Post Below) plus the 1.62 here for a total of 3.37.
Opening (Margin): /MES February 28th 3760 Short Put... for a 31.25 credit.
Comments: An additive long delta adjustment trade here, selling the +20 delta put. Net position still leans slightly short.
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.
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.
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.
Opening: /MES February 28th 4080 Short Call... for a 27.50 credit.
Comments: Additive short delta adjustment after taking off a lower short delta call in profit.
Closing (Margin): /MES February 28th 4190 Short Call... for an 8.75 debit.
Comments: Opened this for a 14.50 credit. Closing it here to erect a short call further down the ladder to delta balance. (14.50 - 8.75)/.2 = $28.75 profit.
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.
Opening (Margin): /MES February 28th 3620/4140 Short Strangle... for a 37.25 credit.
Comments: An additive delta adjustment trade, selling the -18 delta call, and the +12 delta put.
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.
Closing (Margin): /MES Feb 28th 4200, 4220, 4250, 4260 CallsComments: Doing this all in one fell swoop, rather than in separate posts.
Closed:
February 28th 4200 Short Call for an 11.00 debit. (22.00 - 11.00)/.20 = $55.00 profit.
February 28th 4220 Short Call for a 9.00 debit. (16.50 - 9.00)/.20 = $37.50 profit.
February 28th 4250 Short Call for a 6.50 debit. (13.25 - 6.50)/.20 = $33.75 profit.
February 28th 4260 Short Call for a 5.75 debit. (13.50 - 5.75)/.20 = $38.75 profit.
Opened:
February 28th 4110 for a 27.00 credit.
February 28th 4130 for a 22.25 credit.
February 28th 4160 for a 16.25 credit.
If you're asking yourself why I'm selling at these particular strikes, it is to sell call against at a delta that is correspondent with existing legs' short put delta (e.g., the 4110, -23 delta short call strike was selected to sell against my 3770 +24 delta short put; the 4130, -20 delta short call against my 3740, +21 delta short put, etc.). When I finished doing this, I also figured I could afford to resolve having the extra short call unit on by just closing one of the extra short calls that was currently in profit. This leaves me slightly net delta long in the position.
Opened (Margin): /MES February 28th 4190 Short Call... for a 14.50 credit.
Comments: Kind of had to do this on the fly with my phone app ... . Additive short delta adjustment. It was at the -15 delta at the time of fill. Will probably roll down some profitable short call now that I have an opportunity to survey the landscape from the desktop app.
