NSE:NIFTY After the rally from 19300 range till 20000 nifty is now started its consolidation. This is the right time to execute the short straddle for the 21 Sep Expiry. Options Short Straddle: Sell 2100 CE & 2100 PE - 21st Sep (Straddle) Buy 19900 PE - 21St Sep (Hedge Trade) Buy 20300 CE - 21st Sep (Hedge Trade) Max Profit - 7,128/- Max Loss - 2,873/-...
... for a 7.66 credit. Comments: Re-establishing here with 47 days in the April monthly to go ... . As before, will primarily make additive adjustments to get to the size of position I want and then look to just rolling sides in for adjustments without adding units.
... for a 225.00 ($1135.00 max) credit. Comments: The 30-day IV isn't as high as I would like at 20.5, nor is the IVR (11.5%), but you can't always have everything. Will look to make additive adjustments first to get to the size of position I want and then look to just manage sides to delta balance. Starting out skewed just a smidge short here, but I'll...
... for an 8.01 credit. Comments: Re-establishing in the April monthly with 49 days to go. 8.01 credit on buying power effect of 8.87. 90.3% ROC as a function of buying power effect at max; 22.6% at 25% max. 67.99/84.01 break evens. As before, will look to add until I get to the size of position I'm comfortable with, then do additive, subtractive, and...
... for a 234.00 credit. Comments: Re-establishing here with 53 days until expiry. $1170 max on buying power of $1028; 114% ROC as a function of buying power effect; 28.5% at 25% max. 3756/4224 break evens. As before, will look to first add to get to the size of position I want, then do additive, subtractive, and rolling adjustments at intervals to keep the...
... for an 8.56 credit. Comments: Re-upping in /MCL. 8.56 on buying power effect of 8.65 with 67.69/84.81 break evens. As before, will look to do adjustments at intervals to keep the position from getting too directional.
... for a 242.75 credit. Comments: Ask (for higher IV) and you shall receive ... . 3767.25/4254.75 break evens on buying power effect of less than the credit received. Although I look for 25% max out of short straddles, I won't hesitate to take it off in profit early, since this is a tad longer dated than I like to start out with (56 days until expiry).
... for a 7.10 credit. Comments: I still have a little bit of time in this cycle (35 DTE) to putz around with reverse gamma scalping /MCL, so putting on a fresh short straddle at the 78 strike for the starter position. Will generally look to make additive adjustments to keep the delta/theta ratio <1.0 right up until 21 DTE, at which time I'll take the whole...
... for a 199.75 credit. Comments: 199.75 credit (998.75 max) on buying power effect of 1038.55; 96.2% ROC at max; 24.0% at 25% max.* A different form of a reverse gamma scalping setup using short straddles. In this case, delta adjustments are made using additive skewed short straddles to delta balance. For example, if the position skews out to -20 short...
... for a 9.19 credit. Comments: A short delta additive adjustment trade here to cut net long delta in my entire /MCL position by about half, with the goal being to keep the delta/theta ratio under 1.0. The entire position still leans net long, but I will leave it that way to see if the market does some of the lifting for me. Total credits collected of 13.90....
... for a 6.93 credit. Comments: Rolling this out "as is," betting that this weakens ... eventually. Total credits collected of 17.94. Resulting delta/theta of -46.61/22.04 with break evens of 109.06 on the put side; 144.94 on the call side.
for a 3.88 credit. Comments: Rolled to a short straddle today. Total credits collected of 11.56 with a cost basis of 148.44/share if assigned on the 160 short put. It's not great relative to where it's trading now, but I'm getting whipped on both the call and the put side, so I guess the benefit of a covered call (if it goes that way) is that I'll eliminate...
I haven't done one of these in a while ... . Here's how this works (basically). I price out the at-the-money short straddle in the expiry nearest 45 days. I'm generally not going to do a short straddle as a setup, but it helps me rank underlyings by what they're paying in risk premium as a function of strike price to help me utilize what I've got in the most...
for an 18.11 debit. Comments: Collected a total of 19.75 in credits with this little fella, which started out as a 201 short straddle that I inverted defensively. (See Post Below). Closing out here for a 1.64 ($164) profit.
... for a 16.57 debit. Comments: This started out as a 200 short straddle that I inverted slightly. Collected a total of 19.32 in credits, so closing out here results in a realized gain of 19.32 - 16.67 = 2.65 ($265). Still have the April 8th 194C/201P inverted on (which also started out as a 201 short straddle).
... for a 2.34 credit. Comments: Locking in some realized gains (.72/$72) here by rolling out a smidge early to at-the-money with 28 days to go. Total credits collected of 15.14 relative to the April 1st 201 short straddle price of 16.07, so still a little underwater at the moment.
... for a 2.95 credit. Comments: Rolling for a small realized gain here at 21 days until expiry. I've collected a total of 15.05 in credits relative to the current March 25th 201 short straddle price of 15.46, so the position is still a smidge underwater. Current break evens: 185.54 on the put side, 216.46 on the call.
... short straddle for a 1.23 credit. Comments: I will probably regret playing through earnings, but throwing a smidge of caution to the wind by uninverting my short strangle and rolling it to the 265 short straddle in March. Total credits collected of 30.02 with break evens of 234.98 on the put side, 295.02 on the call. Will look to roll up untested side on...