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Shortstrangle

Rolled: IWM December 23rd 258 Short Call* to 246... for an .82 credit. Comments: Rolled the short call aspect of my December 23rd short strangle to cut net delta in half. I originally opened this for 3.42 (See Post below) with a take profit target at 1.71, so am revising my take profit to 1.71 plus the credit received for the roll of .82 or 2.53. The net delta of this short strangle (short put + short call) still leans long. * -- Shown here at the 250 strike in order to fit it on the chart without squeezing.
AMEX:IWM
by NaughtyPines
Rolled (Margin): IWM December 17th 207 Short Put to 232... for a 2.52 credit. Comments: This is the short put aspect of a short strangle that I rolled up to reduce directional delta in the setup. The oppositional side -- the December 17th 242 short call, has a delta of around -52, so I rolled the short put up to the +25 delta strike to cut net delta of the short strangle in half or so. The original short strangle was filled for 3.09 (See Post Below), and I had a take profit target of 50% of that or 1.55. Since I've collected an additional 2.52 in credit with this roll, I'm revising the take profit to 1.55 + 2.52 or 4.07.
AMEX:IWM
by NaughtyPines
Opening: ARKK December 17th 106/135 Short Strangle... for a 3.04 credit. Comments: Venturing back out into margin account trading land with this delta neutral short strangle in the December monthly camped out at the 18 delta strikes. This results in 2x expected move break evens at 102.96 and 138.05. 3.04 credit on buying power effect of 12.11; 25.1% ROC at max as a function of buying power effect; 12.6% ROC at 50% max. Will look to take profit at 50% max and/or manage sides on approaching worthless or side test.
AMEX:ARKK
by NaughtyPines