#SyntheticShortStock – After looking things over for awhile I’m hanging on to the rest of the positions. Instead of rolling the daily put sales back in and up decided to leave them in the Oct monthly and just roll up there. Gives me few a more long deltas overall but plenty of room (half the expected move) for a drop while collecting good premium and theta.

Rolled SPX Oct 18 2024 5570.0 Puts to Oct 18 2024 5600.0 Puts @ 5.00 credit (15.00 total now)

#SyntheticShortStock – Due to the big rally today the deltas are starting to flip short. As an experiment closing my oldest position just to see what sort of fills I get in the LEAPS with the wide bid/ask. Turned out better than I expected getting filled just slightly worse than the mid.

Final numbers:

Initial trade:

Opened Dec 2027 5000/5000/5400 synthetic short at 225.00 debit
Closed Dec 2027 5000/5000/5400 synthetic short at 8.80 credit (this includes closing Oct 18th 5570 strike daily put sale)

Net loss on LEAPS of 216.20

Total premium received on daily sales of 427.15

Net gain of 210.95

Not bad with a synthetic short in a straight up market.