... 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...
... 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 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 a 1.31 credit. Comments: The short leg aspect of a long put diagonal that is acting as a short delta hedge against the rest of my long delta portfolio, the back month of which is in June at the 520 strike. (See Post Below). Cost basis in the diagonal is now 65.76 with an upside break even of 454.24, delta -46.51. Portfolio net delta remains long.
... long put diagonal for a 68.09 debit. Comments: Re-erecting my short delta hedge in SPY to cut delta in a net delta long portfolio after closing out my previous setup which had converged on nearly flat delta. Here, selling the 50 delta strike in the front month and buying the 90 delta in the back month. Paying 68.09 for a 77 wide, -41.73 delta with a 451.91...
... for a 101.55 credit. Comments: Closing here .45 short of max, since both strikes have converged at around 95 delta (the short put +94 delta, the long put -95 delta) so that it's no longer a net delta short hedge. My cost basis was 95.96 (See Post Below), so closing out here results in a profit of 5.59 ($559). Will re-erect a broad market hedge here shortly.