Closing: QQQ August 26th 255/316 Short Strangle... for a 4.82 debit.
Comments: Filled this for a 5.87 credit. (See Post Below). Taking quickee dirtee profit here. 1.05 ($105) profit.
Shortstrangle
Closing: NVDA August 19th 125/180 Short Strangle... for a 4.41 debit.
Comments: Here, a subtractive trade/adjustment that doesn't affect position net delta since this short strangle is a scant .67 delta long. Net credits collected now 32.62. Delta/theta: 25/59.
Rolling: XLE August 19th 83 Short Call to 77... for a .43 credit.
Comments: Delta balancing my short strangle to delta/theta <1.0. Total credits collected of 2.49 with a resulting delta/theta of 5.84/6.79.
Opening: QQQ August 26th 255/316 Short Strangle... for a 5.87 credit.
Comments: Selling the 17 delta strikes on both sides. 5.87 credit on buying power effect of 28.92; 20.3% ROC as a function of buying power effect; 10.1% ROC at 50% max. Will adjust on delta/theta skew out to >1.0.
Closing: QQQ August 19th 250/316 Short Strangle... for 4.17.
Comments: Plain Jane profit-taking. Total credits collected of 6.06 (See Post Below); out here for 4.17. 1.89 ($189) profit with 38 days to go. Will reset in the 45 day weekly shortly.
Opening: XLE August 19th 60/83 Short Strangle... for a 2.06 credit.
Comments: High IVR/IV at 76/49. Selling around the 16 delta on both sides. Delta/theta .4/5.73.
Rolling: NVDA August 19th 190 Short Call to 160... for a 6.10 credit and selling the 180 call for 2.52.
Comments: Inverting my original short strangle to a 5-wide (165P/160C) and selling the 180 call to flatten net delta. Total credits collected of 17.48. Resulting delta/theta 8.27/29.95 with a downside break even of 147.52.
This underlying ... has been pesky. It's possible that taking on shares and selling call against would've been the better way to go, since it ripped up to 190 at one point (only to subsequently give it all up), which would have afforded me an opportunity to bail on the position.
Rolling: QQQ August 19th 331 Short Call to 316... for a 1.01 credit.
Comments: Delta balancing my short strangle a smidge ... . Total credits collected of 6.06. Delta/theta 8.84/16.84.
Rolling: BITO August 19th 16 Call to 12... for a 1.13 credit.
Comments: Inverting my short strangle further ... . Total credits collected of 3.59 on a 5 wide inverted (12C/17P).
Rolling: IWM August 5th 158/187.5 to August 19th 158/192... for a .46 credit.
Comments: Locking in some realized gain and recentering risk/balancing delta. Total credits collected of 2.81. Delta/theta 2.69/10.46.
Opening: QQQ August 19th 250/331 Short Strangle... for a 5.05 credit.
Comments: 5.05 ($505) credit on buying power of 29.26 ($2926); 17.3% ROC as a function of buying power effect; 8.6% at 50% max. Currently the highest IVR/IV broad market ETF on the board at 71/35. Went a little wider here than usual (13 delta both sides) to accommodate more whip. Delta/theta .45/14.52.
Rolled: NVDA July 15th 170/175 to August 19th 165/190... for a 2.70 credit.
Comments: Recentering risk ... . Total credits collected of 8.86.
Rolling: XBI July 15th 65C/75P to August 70/86... for a 9.88 debit.
Comments: As with my IWM trade, paying a debit to uninvert this setup, free up buying power, and turn it into a higher POP (Probability of Profit) setup. I had collected a total of 11.65 in credits up to this point, so I'm still net credit by 1.77 after doing this, but with a smaller buying power footprint and with "delta/theta happy" metrics at -2.66/8.70. Like the IWM trade, however, it's under water: it's currently marking at 5.42. I had a brief opportunity to take it off for a .70 loss, but it decided to move too much ... .
Rolling: IWM July 22nd 167.5/172 to August 5th 158/187.5... for a 6.04 debit.
Comments: Rolling out and paying a debit here that is smaller than total credits collected to reduce buying power effect. Up to this point, I'd collected a total of 8.39 in credits, so I'm still net credit on the setup by 2.35, but it's currently marking at 4.57 or so, so I'm down 2.22 on the position at this point. The setup, however, is now "delta/theta happy" at -4.03/12.39 and isn't being such a buying power pig.
Rolling: BITO July 15th 16C/17P to August... for an .89 credit.
Comments: Just rolling "as is" here about half way through the cycle to reduce cost basis further. Total credits collected of 2.46 on a 1-wide inverted (i.e., I can invert a smidge further to a two-wide if I don't get a bounce).
Rolled: IWM July 22nd 176 Short Call to 172... for a 1.35 credit.
Comments: Rolling down the untested side of my July 22nd short strangle, the short put leg of which is at the 167.5. Total credits collected of 8.39. End of day delta/theta 7.48/19.31.
Closed: ARKK July 15th 32/50 Short Strangle... for a 1.32 debit.
Comments: In for 1.54 (See Post Below), out here for 1.32. .22 ($22) winner ahead of the long holiday weekend.
Rolling: NVDA July 15th 190 Short Call to 175... for a 2.93 credit.
Comments: Beginning to kind of hate this underlying ... . Rolling in the untested side. Total credits collected of 6.16.
Rolled: XBI July 15th 70C to the 65... for a 1.76 credit.
Comments: Inverting further ... . Total credits collected of 11.65 on a now 10-wide inverted. Delta/theta 38.22/9.49. I don't particularly like that delta/theta metric, but am about as inverted as I want to go.
Rolled: IWM July 22nd 197.5 Short Call to the 187... for a 1.40 credit.
Comments: Rolling down the untested side of my July 22nd short strangle. Total credits collected of 5.20. Delta/theta 23.62/15.41.
Opened: ARKK July 15th 32/50 Short Strangle... for a 1.54 credit.
Comments: Opened this on Friday, but ran out of time to post ... . High IVR/IV at 73/76. Selling the 16 delta on both sides. 1.54 credit on buying power of 4.05; 38.0% ROC as a function of buying power at max; 19.0% at 50% max.
Rolling: IWM July 22nd 202 Short Call to 197.5... for a .93 credit.
Comments: Rolling in the untested side of my July 22nd short strangle to maintain a <1.0 delta/theta ratio. Total credits collected of 3.80.
Rolling: XBI June 17th 76P/71C to July 15th 75P/70C... for a 2.56 credit.
Comments: Looked like it was going to stay within in the strikes ... until yesterday, so rolling out here for duration and a credit. Total credits collected of 9.89 on a five wide with break evens at 65.11/79.89.
