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Theta Machine - 12/07/2022THETA MACHINE UPDATE No New Trades Today I want VIX and IV to go higher so we can collect extra premium...if not tomorrow, by Friday I will increase the cost basis to +500, and Theta will be around $150/day. Overall POP = 84% POP = Probability of Profit *Next Week volatility can spike as we will have CPI (Dec 12) and FED (Dec 13). With that said, I will probably hedge with Micro Futures. *Quick TIP if you want to hedge your portfolio> +50 Delta = 1 /MES (Micro) +500 Delta = 1 /ES (Mini) My Delta Beta Weight now is around 100, so In order to hedge I need to Sell 2 Micro Futures (2x /MES)
CME_MINI:ES1!
by IronMan_Trader
1
Rolling (Margin): XOP Dec 16th 127C/147P to Jan 20th 130C/147P... for a 3.67 credit. Comments: Rolling for a realized gain with this down move. There was no 127 strike, so rolled the short call to the 130 and the short put "as is." Total credits collected of 28.47 on a 17 wide inverted. Resulting delta/theta -38.14/15.30 with 13.43 of extrinsic, so I'm indicating here that it's a "short" position. Still looking at this for tax loss harvest, but wanted to give it an additional chance running into year's end to make something of itself.
AMEX:XOPShort
by NaughtyPines