IRA – IWM Monthly Short Strangle
November 30th, 2009, 3:40 pm EST. Posted under Individual Retirement Account (IRA) by ThetaTrader.
Post Tags: , IWM, OPEN
67.92 (-0.26)
03/30/2010 – ThetaOptions IRA Portfolio - IWM MAR QTR Closing orders
With one day left to go before the MAR Qtr options expire, the IRA portfolio has decided to close out the BEAR Call spread now & to roll (2) of our original MAR/APR 67/69 diagonals into a FREE 69/70 bull call spread for APR. We cashed out our other diagonal for about 0.35 profit, but we used that to buy back the short put leverage against our LEAP. So all our effort to desperately free our MAR 62 short caller has paid off on 3/5. Basically we’ve removed the short call & gained 400 points in delta after today. The best part now, is that we have (2) APR bull call spread & we’ll probably initiated (1) PUT back/ratio in-order to capture $1 or so profit over the next 3 weeks. In addition, our LEAP put is ATM (at-the-money) now, so we can close the entire trade now or roll the LEAP PUT up (5) strikes for 1/2 the cost, thereby widening our original 45/70 strangle spread of $31 debit. This would give us a $30 spread for $33.50 debit; that means we only need to collect $3.5, which we’re pretty close too already.
Bearish Outlook: We’re still bearish on the IWM at this point, but we’ll play along for now!
Filled Orders: (different times)
BOT +3 IWM 100 (Quarterlys) MAR5 10 68 CALL @.32 debit (1:31 est)
SOLD -2 DIAGONAL IWM 100 APR 10/MAR5 10 70/68 CALL @.00
BOT +1 IWM 100 (Quarterlys) MAR5 10 68 CALL @.36 debit
SOLD -1 IWM 100 APR 10 69 CALL @.66 Credit
BOT +1 IWM 100 (Quarterlys) MAR5 10 68 CALL @.36 debit
BOT +3 IWM 100 (Quarterlys) MAR5 10 69 CALL @.06 debit
Position: We went from -300 to +140 delta today.
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December 18th, 2009 at 11:22 am
This trade has been updated to include multi-pages for each trade adjustment in order to follow it’s progress throughout the entire year.
- ThetaTrader
January 25th, 2010 at 12:41 pm
01/25/2010 – FEB Trade Adjustment
We’re lowering the strangle strike pattern to 64/57.
Filled Orders:
BOT +1 VERTICAL IWM 100 FEB 10 59/57 PUT @.30 debit.
SOLD -1 VERTICAL IWM 100 FEB 10 64/65 CALL @.26 credit
February 5th, 2010 at 2:08 pm
02/05/2010 – Trade Adjustment
We’re buying back the short caller for 0.05 debit.
Filled Order:
BOT +1 IWM 100 FEB 10 64 CALL @.05 debit
February 8th, 2010 at 10:13 am
02/08/2010 – Trade Adjustment
Sold MAR 62 short caller for 0.75 credit
Filled Order:
SOLD -1 IWM 100 MAR 10 62 CALL @.75 credit
February 16th, 2010 at 3:35 pm
02/16/10 – 3:32 est
We bought back the FEB IWM 57 short PUT today.
Filled Order:
BOT +1 IWM 100 FEB 10 57 PUT @.03 debit
Note: Now we have the (1) MAR 62 short caller that is already ATM!