I listen to Henry Gambell’s short video on better b’fly. He had 2 trades that expire this friday,
FB 150/145/150/155 for 2.20 credit. Nvda 150/145/150/155for 3.51 credit. Anyone have any thoughts that you care share. I’m a bit more conservative than most when it comes to these types of trades.
#Earnings Bought to close $SJM June 16th 130 straddle for 3.00. Sold yesterday as the 120/130/140 #IronButterfly for 5.25. This leaves long lottery tickets at 120 and 140, but otherwise risk is off with 2.25 profit.
#Earnings Sold to Open $SJM June 16th 120/130/140 #IronButterfly for 5.25. Biggest UP move: 7.9%, Biggest DOWN move: -8.1%, Average move: 3.7%. Breakevens at expiration are +/- 4.0% OTM.
Followed from TT Aug. 18 2310/2390/2390/2475 for 60.00, 2475 margin.
#SPXcampaign Sold $SPX June 23rd 2450/2475 call spreads for 1.70.
Closed SPX May 26th 2300/2275 put spreads for .20. Sold for 1.40 on Apr 28th.
Got stuck having to #ReverseRoll a double-sized position into calls last Wednesday, and had to stop out of them today. So I sold an #IronButterfly, or an #IBroll. This allows me to cut my position size in half, and spreads the risk more moderately in both directions rather than heavily in one direction. I will look to close each side when they get cheap, and if I’m stuck with either side significantly ITM a week before expiry, I will do an #ITMroll.
Stopped: closed SPX May 31st 2390/2415 call spreads for 9.35. Sold for 4.80 last Wednesday.
#IBroll: Sold June 7th 2365/2390/2415 iron butterflys for 18.10.
#Earnings Closed $HD May 19th 157.5 puts for 1.05. Sold in the 155/157.5/160 broken-wing #IronButterfly for 2.82 on Monday.
#Rolling Closed $PANW May 19th 135 put for 18.60. Sold for 25.90 on Apr 19th (as a roll). Sold June 16th 110p for 3.30, and June 16th 130 put for 15.30. Brought my ITM put down 5 points.
#SPXcampaign Sold to Open $SPX June 15th 2275/2250 put spreads for 1.35.
Sold to Open May 31st 2360/2335 put spreads for 2.70… offsets threatened 2390/2415 call spreads for the same expiry.
Sold to close all PEP stock for 113.75. I don’t need this weighing me down if we’re going to have market volatility. Cost basis 113.20 from earnings #IronButterfly last month.