Open Short Dec15 Long Jan19 257P 263C Double Calendar
Updated
https://www.tradingview.com/chart/OsBXckpZ/
Been meaning to try one of these . .
Debit 2.46 ($246.00)
Theta 1.66
Delta 1.49
IV 10 IVR 12%
Break-Even / Scratch 266.60 and 253.20 (13.40 profit range)
SPY spot 259.97 Will set this to close at 10% -25/contract (this is one)
- If SPY sits as still as it has today will let it go to more profit Shorts are 23DTE
and at that time with no move or volatility increase it would net $130 but will cover
or adjust within 9-10 days. Even if it (ideally) sits still daily p/l will improve with
closing at a lower risk time and redeploying the capitol.
Been meaning to try one of these . .
Debit 2.46 ($246.00)
Theta 1.66
Delta 1.49
IV 10 IVR 12%
Break-Even / Scratch 266.60 and 253.20 (13.40 profit range)
SPY spot 259.97 Will set this to close at 10% -25/contract (this is one)
- If SPY sits as still as it has today will let it go to more profit Shorts are 23DTE
and at that time with no move or volatility increase it would net $130 but will cover
or adjust within 9-10 days. Even if it (ideally) sits still daily p/l will improve with
closing at a lower risk time and redeploying the capitol.
Trade active
When you click the blue arrow to update the chart - you can see the price went right to the call spread (just into the money then back out). This double being a new strategy to me but it it continues up am considering moving the long call one strike down to turn the call side into a bull call diagonal and if I do that I will finance it (today it would have been a $69 debit) with a similar (but mirrored to a bull put diagonal) adjustment which should approximately result in the same break-even money and from neutral to bullish. SPY tends to sashay back and forth from day to day so if it sits pretty still will just cover for around 10% of initial debit as profit. Again this is a newer strategy for me, any comments, critiques or advice are very welcome. Happy trading and keep smiling! tcTrade active
Slow updating here. on Nov. 30 I closed the calls for small profit and rolled the short put (of the remaining put calendar) up to 258 and out to dec29 all for 1.94 credit which brought the break-even to .52. This action left a bull put diagonal spread in play.Then on Dec. 1 rolled the short put from dec29 to jan12 for a .37 credit and moving the break-even to .15. The pull back of Dec. 1 worked in favor here as well as creating good volatility opportunities elsewhere.
Trade closed manually
Checking log see that I closed this manually on 12-4-17 for a net loss of 25.73 after expenses. See that SPY had moved back up to 265.77 at closing - challenge with this kind of calendar trading in a market that is a little too volatile.
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