@hcgdavis Chris, what are the…

Chris, what are the current hedges you have on?
Can you please share some examples?

Rolling IRBT

Continuing to extend the trade and lower basis–rolled my now short 6/21 92.50 puts to 7/19 90 puts @ .25 credit, and 6/21 95 calls to 7/19 95 calls @ 1.60 credit. I looked at using the #lizardpies strategy described by @hcgdavis but for this one the strike availability didn’t allow it (they’re 5 points wide in July right now and I couldn’t get more than 5.00 credit anywhere). Will look at on my next rollout.

Total premium taken in now 7.08 so my breakevens have been lowered (helped by being able to move the put strike down for a credit). Downside breakeven 82.92, upside breakeven 102.08.

IRBT / GOOGL Adventure / SPX1DTE / LABU CVX Short Calls SFIX Expired / FB Assigned/ KNX SQ Short Puts

$IRBT BTC 5/3 98/102 BUPS for .20. STO at 1.35.
$IRBT STO 5/10 95/100 BUPS for 1.00
$IRBT STO 5/10 100105 BUPS for 2.05 You rock @honkhonk81

$GOOGL Misadventure
Assigned this morning stock $2000 (Yikes) Fortunately stock had a good day and I could close
the 5/3 1190/2000 BUPS at .50 per contract less than a total loss. Sold on 4/30

$SPX 5/3 2850/2870/2945/2965 will show 90% of profit as market closed finally. Thank you @jeffcp66

$CVX STO 5/10 119 call at .78. Sold against 5/17 long 125 calls. The 5/3 120 calls expired. Sold for 1.52. If this expires the losing trade (so far) of the long call will be reduced by 2.30. They were bought for $3. And another week possible.
$LABU BTC 5/3 50 call and STO 5/10 51 call at 1.45 added credit (Covered) Thank you @hcgdavis.

$SFIX 28 call (covered)

$FB 195 calls

$KNX STO 6/21 30 put at .80
$SQ STO 6/21 65 put at 1.82 Thank you @thomberg1201

SPX 2dte makes another appearance

STO SPX Mar6 BeCS 2820/2825 @ .30 x4
BTC SPX Mar6 BuPS 2740/2735 @ .05 x4. Sold @ .30. Profit $100
STO SPX Mar6 BeCS 2820/2825 @ .25 x4
STO SPX Mar6 BuPS 2760/2755 @ .25×4
Full position on for this round.

I was planning to pause on the ICs due to low vol. Then the low vol went poof. Also, you could say that @hcgdavis made me do it.:-)

#jadelizards, #lizardpies, #pietrades, #spikedjadelizard, #spycraft

MNST double double calendar

Out for flat minus commissions. BTO @ .40. STC @ .40

Defending ICs

@hcgdavis is so good to recap his trading strats and share lessons learned. I’m going to try to follow his example here.

Over the last six weeks or so, I’ve traded multiple SPY/SPX ICs using different time frames. It’s a given that defense is absolutely necessary to survive. However, defending too early robs you of potential profits more often than not. Although it will be more expensive, I’ve decided not to defend ICs anymore unless the short strikes are breached. Expensive defense 10% of the time is cheaper than inexpensive defense 40% of the time. If you’re selling spreads outside 1sd, most of them are going to be safe.


SPY 21dte ladder

Sold SPY Feb15 255/253 BuPS @ .20 x2 to start third step of SPY 21dte IC ladder strat. Will add call side before the close.
Sold SPY Feb15 276/278 BeCS @ .24 x2 to complete the IC.