fuzzballl 8:29 am on Wednesday, March 12, 2025

SPX

Rolled on the opening bounce. Giving it time for the VIX curve to flatten out a little.

Rolled SPX Mar 14 2025 5975.0 Put to Apr 17 2025 5975.0 Put @ 1.00 credit (63.10 total now)

fuzzballl 8:30 am on Wednesday, March 12, 2025
MikeL 10:12 am on Wednesday, March 12, 2025

I got a question for you. Trying to roll Mar21 6090 PUT out to Apr or May 6090, but due to VIX curve there is no credit offered for the trade. How would you manage something like this?
- fuzzballl 6:03 pm on Wednesday, March 12, 2025
  
  I’ve got March 21 6065 and 6070 too. I figured at some point in time I might have to just bite the bullet and take a debit roll. Not the end of the world though. Have to just keep trying and hope for the best. Luckily backwardation doesn’t happen much and 2029 is a long way off.
  - MikeL 9:48 am on Thursday, March 13, 2025
    
    Got it. Thanks.
    
    Just an observation. I have a similar position in SPY at 609 strike and there is no problem with rolling out for credit. The only problem with using SPY is the extra commission due to more contracts and the risk of early assignment.
- fuzzballl 9:41 am on Thursday, March 13, 2025
  
  Also…looks like that front month future rolls off on Wed next week. Not sure how that will affect the overall structure. Hoping it helps a little. Right now I’m looking at maybe a roll to May and actually up a strike or two to reduce the debit. That’ll buy a couple months to maybe get more clarity.

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