... for a 26.09 debit. Comments: Short delta hedge against a long delta portfolio. 26.09 cost basis on a 34 wide with a 167.91 break even, a 7.91 ($791) max, and a 3.96 ($396) 50% max. The preference would be to put these hedges on in strength, so probably not the best setup as a standalone trade. * -- Long Put Diagonal.
... for a 39.41 debit. Comments: Re-erecting my QQQ short delta hedge here in this strength, buying the back expiry 90 delta and selling the front expiry 30. Cost basis of 39.41 for a 52 wide with a 266.59 break even. Max profit of 12.59; 50% max of 6.30, so I'm entering a GTC order to take profit at 45.71. * -- Long Put Diagonal.
... for a 43.10 debit. Comments: Short delta hedge against a long delta portfolio; buying the back expiry 90 delta, and selling the front expiry 30. 43.10 cost basis on a 57 wide with a 365.90 break even, a 13.90 ($1390) max, and a 6.95 50% max. Will look to take profit at 50% max, which would be for a 50.05 credit and/or roll out the short put to reduce cost...
... for a 39.51 debit. Comments: Short delta hedge against a long delta portfolio, selling the front expiry +30 and buying the back expiry -90 delta. 39.51 cost basis on a 52 wide with a 274.49 break even, a 12.49 ($1249) max, and a 6.25 50% max. * -- Long put diagonal.
Comments: As with my IWM short delta hedge, an update to my SPY setup (See Post Below) to push it more to the top of the queue so that I don't have to look for it five pages into my ideas feed ... . As of the last roll of the short leg: cost basis of 46.69 on a 47 wide with a 383.31 break even.
... for a 39.88 debit. Comments: Having closed out my QQQ short delta hedge earlier, immediately re-erecting one here, since I still need the short delta. Buying the back month 90 in the December monthly, selling the front 30, giving me about 60 short delta to hedge off my long deltas in the Q's. Cost basis of 39.88 for a 51 wide with a 280.12 break even. Max...
Comments: Just updating my short delta hedge (See Post Below) in IWM so that it appears more toward the top of my ideas queue ... . As of the last short leg roll: Cost basis of 22.58 with a 177.42 break even on a 23 wide. As you can see, price has pushed up quite a bit into the long leg of the setup, but I'll keep rolling the short leg out to reduce cost basis...
... for a 45.69 credit. Comments: That ... was quick. Filled this for a 39.14 debit on the 16th. (See Post Below). Hit 50% max today; 6.55 ($655) winner. Will re-erect one in the Q's shortly. * -- Long Put Diagonal.
... for a 39.14 debit. Comments: After closing out my previous QQQ short delta hedge for a profit, opening a new one. Selling the front week 30 delta; buying the back month 90, resulting in around a -60 delta metric. Cost basis of 39.14 with a 289.86 break even on a 51 wide with a max profit potential of 11.86. Will look to take profit on the entire setup at...
Comments: Update to my QQQ short delta hedge (See Post Below), which is in somewhat better shape than my IWM and SPY short delta hedges, since price has been hanging out around the short leg of the setup, which has allowed me to collect more cost basis reducing extrinsic value than for my small cap and S&P short option legs. The short option leg of this setup is...
... for a 60.78/contract debit. Comments: Additional short delta hedge to a long delta portfolio. Here, selling the front month 30 delta, buying the back month 90 to provide me with a net -60 delta/contract. Paying 60.78 for an 83-wide with a 294.22 break even. I generally don't like to add on weakness, but my other broad market short delta hedge is...
... for a 29.95/contract debit. Comments: Erecting a short delta hedge specifically against my IWM longs here, tailored to my specific delta needs, so I've gone with selling the front month 50 and buying the back month 90 for -40 or so delta per contract. (The math just worked out better with multiples of -40 versus multiples of -60; call me delta anal). I've...
... for a 60.76/contract debit. Comments: Re-erecting my short delta hedge here after taking profit on my previous one. Buying the back month 90 and selling the front month 30 delta strikes to provide me with -60 delta/contract. 369.24 break even, paying 60.76 for a 79 wide with a max profit potential of 18.24 ($1824) assuming a finish sub-351. I would note...
... for a 61.68/contract debit. Comments: After having taken profit on my existing SPY short delta hedge (See Post Below), opening a new one, paying 61.68 for an 81 wide with a 397.32 break even. Selling the front month 30's and buying the back month 90 deltas to provide me with net -60 delta of hedge/contract. I've had to go with "a few" additional units here...
... for a 58.84 debit. Comments: Opened this yesterday with my other short delta hedge convergent on max profit and with little short delta left in it, (See Post Below), such that it was no longer functioning as much of a hedge. Bought the back month 90, sold the front month 30, paying 58.84 for an 80 wide with a 427.16 break even and a max profit potential of...
... for a 72.50 credit. Comments: Cost basis in this was 69.47. (See Post Below). With the short put deep in the money and the diagonal converging on max (73.00), it's served its purpose. I've also already replaced it with a new hedge. 3.03 ($303) profit per contract. * -- Long Put Diagonal.
... for an 81.05 debit/contract. Comments: Adding in a short delta hedge here to flatten net delta in my portfolio, buying the back month 90 delta and selling the front month 50. It has -41.53 worth of short delta/contract associated with it and a break even of 438.95. I'll look to work it like a covered put, rolling the short option aspect out for duration...
... for a 79.15 credit. Comments: Having erected a new short delta hedge in my IRA that I don't want "step on" with potential rolls of the short leg aspect of this setup, taking profit on this hedge here. My cost basis was a 63.58 debit (See Post Below). Closing it out here results in a realized gain of 15.57 ($1557)/contract.