
I also adjusted my SPX 920 Call calendar. Again, today's run up was a gift, but I was still concerned about the downside. I'm hoping that SPX stays in a range. I'd guess somewhere around 875 to 950, and my current breakevens are about 885 to 955. So I decided to roll down half of my position to flatten the deltas, increase my theta slightly, and lower my BEs a bit. Knowing my luck, I'll get whipsawed on this again and SPX will shoot up above 950 in no time. Of course, me saying that will hopefully prevent it from happening. As it stand, this trade is down about 8%. The current position is shown below.

As for the high prob RUT iron condors, my "lost 10% the day I put it on" tranche has finally crossed into positive territory at 0.8%. I'm looking to get around 5% on this trade due to my earlier adjustments (locking in some losses). My other tranche is around 5.5% gain with a goal of 10%. Doing well. Because I have no calls left, this pair of trades are leaning quite long delta, around 80, with theta around 100. Now that the Fed announcement is done, I'm thinking on selling some calls (around 25% of the original position size). Probably something around the 550-560, and this would cut my deltas to around 50 and increase theta to 140. Selling only 25-50% of the original size keeps the whipsaw risk lower while improving the greeks.
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