... short puts. Comments: Replacing the short puts I stripped off in profit to delta balance what is now the -27, -31, -33, and -36 delta calls. The remaining -42 delta short call at the 4080 is only partially hedged, so position net delta still leans short. Opened the February 28th 3890 for a 41.00 credit. Opened the February 28th 3925 for a 49.25...
... short puts. Comments: Filled the 3620 for a 18.00 credit; closed it here for a 10.25 debit. (18.00 - 10.25)/.2 = $38.75 profit. Filled the 3700 for a 22.00 credit; closed it for a 15.25 debit. (22.00 - 15.25)/.2 = $33.75 profit. Filled the 3760 for a 31.25 credit; closed it for a 20.75 debit. (31.25 - 20.75)/.2 = $52.50 profit. Filled the 3770 for a 28.25...
... for a 31.25 credit. Comments: An additive long delta adjustment trade here, selling the +20 delta put. Net position still leans slightly short.
... for a 27.50 credit. Comments: Additive short delta adjustment after taking off a lower short delta call in profit.
... for an 8.75 debit. Comments: Opened this for a 14.50 credit. Closing it here to erect a short call further down the ladder to delta balance. (14.50 - 8.75)/.2 = $28.75 profit.
... for a 37.25 credit. Comments: An additive delta adjustment trade, selling the -18 delta call, and the +12 delta put.
Comments: Doing this all in one fell swoop, rather than in separate posts. Closed: February 28th 4200 Short Call for an 11.00 debit. (22.00 - 11.00)/.20 = $55.00 profit. February 28th 4220 Short Call for a 9.00 debit. (16.50 - 9.00)/.20 = $37.50 profit. February 28th 4250 Short Call for a 6.50 debit. (13.25 - 6.50)/.20 = $33.75 profit. February 28th 4260...
... for a 14.50 credit. Comments: Kind of had to do this on the fly with my phone app ... . Additive short delta adjustment. It was at the -15 delta at the time of fill. Will probably roll down some profitable short call now that I have an opportunity to survey the landscape from the desktop app.
... for a 38.00 debit. Comments: Filled the two legs of this short strangle for a total of 44.75 in credits. Closing out here results in a realized gain of (44.75 - 38.00)/.20 = 33.75. /MES position net delta leans slightly long at the moment.
... for a 40.50 credit. Comments: An additive delta adjustment trade, selling the +12 delta put and the -19 delta call to pick up net -7 delta. Will mostly look to mix and match profitable put with profitable call to peel off units from here to 21 DTE.
... for a 41.75 credit. Comments: Additive delta adjustment trade, selling the +18 delta put and the -13 delta call. As before, looking to mix and match profitable short call with profitable short put to reduce size, while simultaneously attempting to keep the position delta neutral.
... for a 37.50 credit. Comments: (Late Post). Last kind of additive delta adjustment trade I did yesterday ... .
... for a 38.50 credit. Comments: Additive delta adjustment, selling the 14 delta short put and the 16 delta call.
... for a 44.75 credit. Comments: Moving into the February 28th (47 DTE) expiry here after pulling off all of my Feb 15th stuff. Selling the 16 delta strikes on both sides. $223.75 max on buying power effect of 868.42; 25.8% ROC at max; 12.9% at 50% max.
... for a 108.75 debit. Comments: I collected a total of 95.75 for the two legs of this short strangle. Closing it out here on abysmally low IVR for a realized loss of (108.75 - 98.75)/.20 = $50.00. In spite of taking off these last two short strangles as losers, net realized gain on primarily February 15th cycle /MES: 236.25.
... for a 78.50 debit. Comments: I received 73.25 total in credits for these legs; closing out her results in a realized loss of (78.50 - 73.25)/.20 = 26.25 ($26.25). I'm fine with doing this here, since IVR has plummeted to almost 52-week lows, implying that there is a risk that IV could expand from here. If that happens, I'd rather be in a setup with...
Comments: Replacing the short put aspects of my short strangles that I took off in profit earlier. (For all practical purposes, these are rolls of the untested side to delta balance). In any event, I received a 71.25 credit for the 3910 and a 53.25 credit for the 3850, with the resulting position net delta neutral.
Comments: I received a 36.50 credit for the 3690 and closed it for 23.50, resulting in a (36.50 - 23.50)/20 = $65 profit. I received a 52.00 credit for the 3800 and closed it for 42.25, resulting in a (52.00 - 42.25)/20 = $48.75 profit.