... for a 31.72 debit. Comments: Short delta hedge against a long delta portfolio. Buying the back -90 delta put and selling the front +30 to give me -60 delta/contract worth of hedge. This isn't a commentary or forecast of where the market goes from here, but rather in the nature of buying protection to keep my wife from yelling at me because her portfolio is...
... for a 36.91 debit. Comments: Re-establishing my broad market short delta hedge against a long delta portfolio. Buying the back month -90 delta put, and selling the front month +30. 36.91 cost basis with a 393.09 break even on a 49 wide. * -- Long Put Diagonal.
... for a 19.29 debit. Comments: Long the -90 put in July, short the +30 put in April; short delta hedge against a long delta portfolio. Cost basis of 19.29 with a 170.71 break even on a 28 wide. * -- Long Put Diagonal.
With the DIA at fairly long-term overhead resistance, I thought I'd set out how I'd potentially take a bearish assumption directional shot using a defined risk options setup where the max loss is known from the outset. There are several ways to go about this: 1. Short Call Vertical Buy the September 15th 351 call and sell the September 15th 346 call, resulting...
With GLD at or near all time highs, looking to buy the back month -90 delta put and sell the front expiry +30 delta to synthetically emulate a covered put with -60 delta or so. Will look to take profit at 110% of my cost basis (i.e., a 21.57 credit, resulting in a 1.96/$196 profit). Metrics: Max Loss: 19.61 debit Break Even: 190.39 relative to 189.64 spot...
... for a 19.98 debit. Comments: Taking a bearish assumption directional shot in GLD here on strength. Buying the back month -90 delta put and selling the front month +30 to emulate the delta metrics of a covered put (i.e., short a one lot of stock + short a put). Cost basis of 19.98 with a 190.02 break even on a 25 wide. 5.02 ( SGX:502 ) max profit, assuming...
... for a 21.30 debit. Comments: Re-erecting my short delta hedge in IWM against my long delta portfolio. Buying the June -90 delta put and selling the April 6th +30 one. This isn't greatly ideal here with small caps being at the low end of their range, so wouldn't recommend doing it as a standalone short ... . Metrics: 21.30 cost basis with a 175.70 break...
... for a 20.52 debit. Comments: Resetting my short delta hedge against a long delta portfolio ... . You know the drill: buying the -90 put in the back and selling the +30 delta put in the front. 20.52 cost basis with a 181.48 break even on a 27 wide. * -- Long Put Diagonal.
... for a 29.86 debit. Comments: Re-establishing my short delta hedge against a long delta portfolio, buying the back month -90 delta and selling the front +30 to give me -60 delta of hedge per contract. This is not a comment on where the market goes from here, but rather protection to keep me from filling my diaper in the event the market sells off (although...
... for a 16.20 debit. Comments: Re-erecting my short delta hedge in IWM after taking off my earlier setup in profit. Back the -90 delta put in the back and selling the 30 delta put in the front. 16.20 cost basis with a 187.50 break even on a 22 wide. * -- Long Put Diagonal.
... for a 31.62 debit. Comments: Re-establshing my short delta hedge in SPY against a long delta portfolio. Buying the back month -90 delta put and selling the front month +30 to give me around -60 delta of pro per contract. As with my other short delta hedges in IWM and QQQ, will look to roll out the short option leg to keep my portfolio "net delta happy" as...
... for a 32.20 debit. Comments: After taking off my SPY short delta hedge earlier, re-erecting it here, now with the back month in May. Buying the back month 90, selling the front month 30 delta to generate around -60 delta to hedge off a long delta portfolio. 32.20 cost basis with a 407.80 break even on a 43 wide. * -- Long Put Diagonal.
... for a 30.67 debit. Comments: After taking profit on my QQQ short delta hedge earlier, re-erecting it with the back month out in May. Buying the 90 delta back month, selling the 30 delta front, giving me around -60 delta/contract to offset a long delta portfolio. 30.67 cost basis with a 301.33 break even on a 42 wide. * -- Long put diagonal.
... for a 17.30 debit. Comments: Resetting my broad market short delta hedge against a long delta portfolio in IWM here buying the back month -90 delta and selling the front month +30 delta. Cost basis of 17.30 with a 190.70 break even on a 23 wide. * -- Long Put Diagonal.
... for a 31.16 debit. Comments: Short delta hedge against a long delta portfolio ... . Buying the -90 put in the back month and selling the +30 short in the front. 31.16 cost basis with a 408.84 break even on a 42.50 wide. As with my other short delta hedges, will look to roll the short option aspect out in time to reduce cost basis.
... for a 31.20 debit. Comments: Resetting my broad market short delta hedge against a long delta portfolio in QQQ here, buying the back month -90 delta and selling the front +30 delta. 31.20 cost basis with a 302.8 break even on a 42 wide. * -- Long Put Diagonal.
... for a 49.44 debit. Comments: Re-erecting my SPY short delta hedge here against my long delta portfolio, buying the back month 90 delta in the January monthly (98 days), and selling the front expiry 30 (14 days). 49.44 cost basis with a 370.56 break even on a 62 wide. 12.56 ($1256) max profit; 6.28 ($628) 50% max. Will look to roll out the short put aspect...
... for a 38.21 per contract debit. Comments: After taking profit on my previous long put diagonal in the Q's (See Post Below), re-erecting it immediately here, since I still need QQQ short delta. Selling the front expiry 30 delta and buying the back month 90 to delta hedge against a long delta portfolio. Going a little larger contract wise due to having some...