... for a 1.00 in credit. Comments: Part two of delta adjustment trade ... . Instead of rolling up the 205/215 short put vertical, I closed it out (See Post Below), and then re-erected a 2 x 5 to delta balance against my call side, whose short leg is at the -32 delta strike. This doesn't increase buying power effect, since the 2 x 5 is equivalent to the 1 x 10...
... for a .87 debit. Comments: First part of an adjustment trade. Instead of rolling the short put vertical aspect of my 205/215/255/265 up to delta balance, I'm closing it out. Then, I'll re-erect a 2 x 5 (the equivalent of a 10-wide) to delta balance against the call side, whose short leg is at the 32 delta.
... for a 1.17 debit. Comments: Mixing and matching profitable put wing with profitable call wing from iron condors put on at different times (See Posts Below) to de-risk running into NVDA earnings on 5/22. (NVDA is around 21% of SMH holdings). The resulting setup is a July 19th 205/215/255/265 on which I've collected a net 3.23 in credits; delta/theta...
... for a 2.17 credit. Comments: An additive delta adjustment to the current SMH IC I have on. (See Post Below). With the original setup's short call aspect converging on -25 delta and the short put converging on +10, selling a skewed IC with the oppositionally delta'd short call/short put (i.e., at the +25 short put and the -10 delta short call) to bring back...
... for a 9.19 credit. Comments: A short delta additive adjustment trade here to cut net long delta in my entire /MCL position by about half, with the goal being to keep the delta/theta ratio under 1.0. The entire position still leans net long, but I will leave it that way to see if the market does some of the lifting for me. Total credits collected of 13.90....
... for a 73.75 credit. Comments: Functionally rolling to a 4080 short straddle here to delta balance and bring my delta/theta ratio to back under 1.0. The position remains net delta short, which I'm fine with since we're at 30 day highs here. Will look to take off the whole kit and caboodle in the next several days here, since I've only got 32 DTE to go in...
... for a 1.33 credit. Comments: An additive delta adjustment trade, selling the +13 delta put at the 70 and the -8 delta call at the 101. The position still leans net delta short here, which I'm fine with since WTI is toward the top of its 30-day range. * -- The 70 is shown at the 69 strike.
... for a 1.68 debit. Comments: Received 2.00 in credits for this pair of legs. Closing out here for 1.68 as a profitable, subtractive delta adjustment trade. .32 ($32.00) profit. This leaves me (at the moment) with a 10 delta short strangle at the 66/97 and a 17 delta short strangle at the 70.5/93, with the entire position being net delta flat.
... for a 1.58 credit. Comments: Selling the +10 delta put and the -17 delta call to delta balance.
... for a 32.50 credit. Comments: After taking off a lower delta'd short put leg in profit, replacing it here with a short put with a strike that cuts my net delta in half or so.
... for a 1.80 credit. Comments: Delta balancing my existing short strangle by selling the +15 put at the 70.5 and the -13 call at the 97.
... short puts. Comments: Replacing the short puts I stripped off in profit to delta balance what is now the -27, -31, -33, and -36 delta calls. The remaining -42 delta short call at the 4080 is only partially hedged, so position net delta still leans short. Opened the February 28th 3890 for a 41.00 credit. Opened the February 28th 3925 for a 49.25...
... for a .27 debit. Comments: Since I've exited the position that this leg was providing a little long delta assist to, closing it out here for a small winner. Filled for a .54 credit; out here for a .27 debit. .27 ($27) profit. I'm now all out in the March cycle which, for the moment, is net delta flat to slightly short.
... for a 27.50 credit. Comments: Additive short delta adjustment after taking off a lower short delta call in profit.
... for a 1.70 credit. Comments: An additive delta adjustment trade, selling the +15 delta put at the 69 and the -9 delta call at the 101.
... for a 37.25 credit. Comments: An additive delta adjustment trade, selling the -18 delta call, and the +12 delta put.
Comments: Doing this all in one fell swoop, rather than in separate posts. Closed: February 28th 4200 Short Call for an 11.00 debit. (22.00 - 11.00)/.20 = $55.00 profit. February 28th 4220 Short Call for a 9.00 debit. (16.50 - 9.00)/.20 = $37.50 profit. February 28th 4250 Short Call for a 6.50 debit. (13.25 - 6.50)/.20 = $33.75 profit. February 28th 4260...
... for a 14.50 credit. Comments: Kind of had to do this on the fly with my phone app ... . Additive short delta adjustment. It was at the -15 delta at the time of fill. Will probably roll down some profitable short call now that I have an opportunity to survey the landscape from the desktop app.