Before today: long Mar26 (AM) 6700 put and 7200 call, short today’s 6920 put and 6960 call.

The whole structure took a net ~$3,800 hit, with SPX dropping 143 to 6796.

Rolled to 1/23 6800 call and 6860 put for 3.9 credit.

Note the strike for the call is now below that for the put, but the total credit ($128) is more than the distance between the strikes, and the range for b/e at expiration: 6740/6920. The goal for future rolling is to bring the call up and put down and eventually call above put.

Also rolled down the Mar call to 7000, at a cost of $59. This is something I do after the market had a huge move or flatting out, to help to align the shorts roughly near the center between the long call and put. When doing this type of rolling, sometimes I move both the call and put at the same time, and sometimes may take the opportunity roll them out for a month or two. not today.

The new structure has 41 Delta, 4292 Theta, and 1916 Vega.