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Rolled (Margin): XOP September 16th 135/145 Short Strangle... to the September 16th 142/159 short strangle for a 4.94 debit. Comments: Up to this point, I had collected a total of 9.35 in credits. Instead of rolling out a month, I opted to pay a debit to recenter risk here intraexpiry (basically to an expected move setup) in order to give it a chance to work out this cycle (while temporarily reducing assignment risk, since I moved the short call from in-the-money to out-of-the-money). Total credits collected now 9.35 minus 4.94 or 4.41 relative to a current value for the 142/159 of 7.15 at the mid price . -1.03/25.55 delta/theta.
AMEX:XOP
by NaughtyPines
Rolling (Margin): BITO Sept 12C/17P to Oct 11C/16P... for a .63 credit. Comments: Rolling out with 28 days to go, but adjusting strikes slightly to delta neutral, since there wasn't a ton of difference in credit between rolling out "as is" versus delta balancing. Total credits collected of 5.01 on a 5 wide inverted. The setup is currently marking at 6.46 relative to my cost basis of 5.01, so it's underwater by 1.45 ($145). Moreover, the max the setup can make is 5.01 minus the width of the inversion (5.00) (i.e., $1), so I'm just looking to cut that loss a smidge before calling it a day if I can, with price ideally staying between the short option strikes throughout the life of the setup. Resulting delta/theta of -8.42/2.18.
AMEX:BITO
by NaughtyPines
2
Rolling (Margin): NVDA Sept 16th 170/220 to Oct 21st 160/210... for a 5.16/contract credit. Comments: Rolling out to the 25 deltas (both sides) right before earnings in lieu of doing an intraexpiry delta adjustment with 28 days to go. Total credits collected of 2.52/contract (See Post Below) plus the 5.16 here for a total of 7.68/contract. The October 21st 160/210 is currently marking at around 11.50, so I'm still down 3.80 or so per contract. It's an improvement over I was as of the last roll, but I'm still just basically slogging away at a loser here to scratch it out (or make it less of a loser).
NASDAQ:NVDA
by NaughtyPines