#spycraft BTC the 36DTE 2910…


BTC the 36DTE 2910 call on the strangle for 7. Sold for 2 so total loss on that half is $102. Total on the strangle was $400 so can still make close to 300 on the put side.

This stupid market just won’t stop, annoying really 😦

I would have left it, but have you ever had one of those days where everything on your screen is red!? I just need the SPX to not go up anymore, GILD to go back down, SWKS to go up, and WDC to pull back a little. Every stinking one of them is going the wrong way, so I really did this to keep from getting a margin call. I can recover the other 3 now.

The other issue is my theta is high but because everything is in the wrong direction it is not making a difference, at least I flattened the deltas buying back the /es call.

One of the best TT episodes was titled “I am not greedy, I just want it faster”. I think that was when they discovered 45 DTE is best decay rate for OTM options. That’s how I feel this week, huge decay but not doing me any good because they are all ITM now.

I think time to close everything out at break even or a slight profit and reload 🙂