EWZ DiagBFly

#DiagonalButterfly 

Rolling the short straddle early due to the strong upward momentum.

$EWZ @ $30.39
BTC 1 EWZ June 05: 27 short straddle @ $3.55 (originally sold for $1.62)
STO 1 EWZ June 12: 30 straddle @ $1.84

The short straddle is covered by a long EWZ Sep 18: 24 put / 30 call strangle.

Now it becomes interesting. The strong move perhaps came earlier than I would have liked, but the long Sep $30 call is now ITM. That has come at a cost of some debit rolls, but the credits will come further down the timeline.

$BIDU DiagonalBFly

#DiagonalButterfly 

$BIDU @ $103.80
Original trade:

Sold to open 1 BIDU May 29 108 short straddle @ $3.78
Bought to open 1 BIDU Jul 02 100 put / 115 call strangle @ $5.29
Net debit trade of $1.51

With BIDU moving down, need to roll the put side of the 108 short straddle

Rolled to the Jun 05, 105 short put for a debit of $0.92 – however, improving $3 in position.

Will let the May 29, 108 short call expire worthless and willing to take the risk by already opening the new short call leg to complete the $105 short straddle:

STO BIDU Jun 05, $105 call @ $2.20

The original Diagonal Butterfly was put on for a debit of $1.51, so the overall position now is in credit for $0.69.

EWZ DiagBFly

#DiagonalButterfly 

$EWZ @ $27.26
Sold to open 1 EWZ June 05: 27 short straddle @ $1.62
Bought to open 1 EWZ Sep 18: 24 put / 30 call strangle @ $2.93
Net debit trade of $1.32

#DiagonalButterfly #Option Iceman $BIDU @…

#DiagonalButterfly #Option Iceman

$BIDU @ $107.75
Sold to open 1 BIDU May 29 108 short straddle @ $3.78
Bought to open 1 BIDU Jul 02 100 put / 115 call strangle @ $5.29
Net debit trade of $1.51

Should get a number of tries until July to sell very short term straddles.

I may look at another underlying to also pay down the debit.