#spycraft Booking profits already on…


Booking profits already on the call side of the /ES 37DTE 2480/2900 strangle. Sold the call side for 3.50, BTC after hours (it trades 23/5) for 2.05. 42% profit in few hours so I will book it.

Will leave the put side on and if we get a bounce sell calls again after runup. If we roll down will short 2 futures which would offset the loss all the way down to 2300 or lower, actually the p/l graph at that point shows a 13k profit. The cool thing with futures is you do not always need the same # of contracts as options because of the delta weighting. A future contract carries a hard delta of +-50 and these options are so far OTM you do not need 1:1 ratio for covering like a stock ticker.