fuzzballl 8:49 am on Wednesday, March 13, 2024
Tags: SyntheticShortStock ( 108 )

SPX

#SyntheticShortStock – Rolling a little earlier today.

Rolled SPX Mar 13 2024 5150.0 Puts to Mar 14 2024 5155.0 Puts @ 7.40 credit (14.45 total now)

fuzzballl 10:40 am on Wednesday, March 13, 2024

Looking back at my original paper trade that I’ve still got going….strikes were Dec 2025 4800/4800/5300. With this crazy up market that position would cost 12,300 to close. The cost to open the position was 5200 so 17,500 total debit. This position went back to around first of the year. Not sure of the exact premium I’ve received since I let TOS track the P/L of all my paper SPX (I’ve got 5 going now with one each year).

Based on averages of real positions I track I’m estimating around 2700 per week so roughly 29,700 total. Since the spreads are so far out in time the short deltas aren’t really deal breakers. This position has moved against me every step of the way but still up over 12 grand.

As expiration gets closer the move towards parity will increase quickly so the plan is to close the nearest one with about a year to go and add the next one.

So far so good…paper and real. I’m running 5 paper and 3 real so getting some good data.
- fuzzballl 12:17 pm on Wednesday, March 13, 2024
  
  Real numbers on real trades as of 10 minutes ago:
  
  3 going in live accounts. Expirations of Dec 2027,2028, and 2029.
  
  2027 has been going for 5 weeks. 2028 has been going for 5 weeks. 2029 has been going for 1 week.
  
  If I closed them all right now gain would be $16270. The breakdown on that is LEAPS loss of 13780 and premium received on daily sales of 30050.
  
  Not bad in a straight up market in just a few weeks. A flat to drifting lower market is where these should really shine.
  - geewhiz112 1:02 pm on Wednesday, March 13, 2024
    
    You are definitely shining!
    - fuzzballl 1:21 pm on Wednesday, March 13, 2024
      
      So far. LOL Time will tell.

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