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Shortputvert

ROLLING: IWM DEC 16TH 128/132 SHORT CALL VERT ... ... to the Dec 23rd 130/135 for a .25 credit. I previously rolled to the Dec 16th expiry with the intention of setting up an iron fly there by selling a put side against. Unfortunately, I set up the short put vert (which I sold for .43 cr) in the Dec 23rd expiry, so at that point, I had a weird ass setup -- a Dec 16th 128/131 short call vert with a Dec 23rd 124/128 short put vert. Naturally, I could have just let that "play out," but weird stuff bugs me, so I'm fixing it here ... .
AMEX:IWM
by NaughtyPines
4
OPENING: IWM DEC 23RD 135/138 SHORT PUT VERTHere, I'm opening a short call vertical to pair with a short put vertical that I originally put on as a delta hedge. IWM, after all, is looking overextended, toppy here, and I want to have more short delta in place for my overall IWM position if the election "exuberance" begins to wear thin. I filled the spread for a .52 ($52)/contract credit and will look to take off the now complete iron condor as a unit at 50% max profit if I get the chance. Notes: I generally don't leg into iron condors as a matter of course, but it just so happened that I had more "put side" units than "call side" units. This balances that out.
AMEX:IWM
by NaughtyPines
OPENING: IWM DEC 23RD 116/119 SHORT PUT VERT (DELTA HEDGE)My current IWM positions are skewing more delta negative than I would like, even after rolling up the short put sides of those yesterday to delta balance. Much as I hate to do it here (general rule: buy on weakness, sell on strength), I'm adding in a "smidgeon" of IWM long delta here selling the as nearest as I can get to the 20 delta strike on the put side. If my net IWM delta skews back long, I'll add in the oppositional call side to this spread, creating a full iron condor in the Dec 23rd expiry. Filled for a .38 ($38)/contract credit ... .
AMEX:IWM
by NaughtyPines
BOUGHT TO COVER SPX AUG 12TH 2100/2115 SHORT PUT VERTWith 4 DTE left in this troubled post-Brexit setup and the short put side nearing worthless, I bought to cover it for a .15 ($15)/contract debit, rolled out the short call side from the Aug 12th 2145/2160 to the Aug 26th 2155/2175 for a .55 ($55)/contract credit, and sold a 83% probability of profit short put vert against in the same expiry for an additional 1.05 ($105)/contract in credit, leaving me net credit on the roll and with an Aug 26th 2120/2130/2155/2175 iron condor. Still looking to exit this for scratch or better, but have to pour through the chain to calculate my scratch point ... .
TVC:SPX
by NaughtyPines