These 2 are probably the bible on strangle/straddle selling. Occasionally watch tasytrade re-runs, wife and daughter at dance so catching a few of the more important re-runs.
https://www.youtube.com/watch?v=UBBjR3NcyUM managing straddles and strangles
https://www.youtube.com/watch?v=pDz10RKJdp0 how big account for 1 lot trades
I made no new SPX trades today, but have finally caught up and the position chart is now up to date.
We hit a 10 year low on the VIX today, lowest since December 2006.
Taking some #VXXGame trades off into the strength
Lightening the load in expirations that I had a heavier presence–bought to close:
$UVXY May 26 40 calls @ .04. Sold for 1.80 on 4/13
$UVXY May 26 42 calls @ .04. Sold for .80 on 4/21
$SVXY Jun 16 60 puts @ .20 Sold for 1.41 on 2/15.
$SVXY Jun 16 64 puts @ .12. Sold for 1.33 on 3/24.
$CELG #ShortPuts #FallingKnife – Sold a some more Puts in this name
Sold 1 CELG Oct 20 2017 95.0 Put @ 1.39
Sold 1 CELG Jan 19 2018 85.0 Put @ 1.39
$SVXY #ShortPuts – SVXY is too high and I’m going to have to cover more calls. I will also need to cover some worthless puts to get a full margin release.
Bought to close 6 May 12 2017 70.0 Puts @ 0.01. Sold on the last VIX spike at 0.64, 0.75 and 0.90
No earning trading today.
It is heading lower into the finish.