March 14, 2016 at 11:57 am #4976
This was the IC I was talking about in chat; no adjustment yet. I see Delta is @ 18 and i have the adjustment point @ 2030 for the time being.
I still have my puts at around 0.35. might be a bit late for a greedy roll?March 14, 2016 at 11:57 am #4973
Nice to see you here. i have floated sell -2 of the above..
about to get flight so will check if i get filled tomorrow.March 14, 2016 at 12:06 pm #4978
APR4 IC is 39 days until expiration, short strike’s delta on the call side is around 18 so I haven’t adjusted the upside yet. I think rolling up puts to a new strike with delta around 11 makes sense.March 14, 2016 at 12:30 pm #4980
New Iron Condor (SPX MAY2) is 60 days out. I want to be in sometime between now and 50 days until expiration, so I have time to get in. The important part is IF SPX was to move 30 pts in either direction overnight, I will adjust my short strikes accordingly. DO NOT offer the same IC if SPX moves big. The idea is that I’m looking to sell both bull put and bear call with a short strike’s delta around 10 and I’m looking for around 1.80 credit for this trade.March 15, 2016 at 9:59 am #4984
SPX is around 2006 (-13.35). I am going to change the strikes for my SPX MAY2 Iron Condor to:
Bull Put: 1800/1790
Bear Call: 2130/2140
Looking for 1.80 creditMarch 15, 2016 at 11:21 am #4988
also adjusted my strikes didn’t get filled yesterday. floating -2 same as above.
For the SPX APR4 IC i offloaded my puts @0.35 but didnt get filled on new delta 11s
today i just floated 1850/1840 delta 12 for 0.8.March 15, 2016 at 11:27 am #4989
regarding the number of positions. What is your max allowed loss? 1.5 x max credit. That implies a loss of 2700 which is ~6.75% of the portfolio. (rolling will mitigate this) ..March 15, 2016 at 11:33 am #4990
Max allowable loss shouldn’t be much more than total credit received. Now can it exceed that? Sure, but for me, if a trade is down 1.3X credit – I will stop fighting it and let it go.March 15, 2016 at 11:38 am #4991
just noticed the Apr4 SPX IC Adjustment yesterday. The short call is now 15 so I feel I dont need to do this call hedg at least till back to delta 20 on short call?
I also have floated out new put side @ 1850.. if i dont get filled then perhaps the call is a good idea regardless.March 15, 2016 at 11:42 am #4992
Hey Igor, I just got filled on the MAY2 IC. You shared previously some XLS spreadsheets, one to track performance, another to show when it makes sense to take off earlier the position (if you can get a certain amount of credit). Where do I find them?March 15, 2016 at 11:46 am #4993
If you’re in front of your screen then yeah, you can wait for the mkt to make a move.March 15, 2016 at 11:52 am #4994
@Andras – Performance sheet will be on the up on this site shortly, Optimal Management cheatsheet is HERE. Keep in mind, this applies to naked strangles.March 15, 2016 at 1:39 pm #5003
Igor – Can you explain a little bit how this service works. Do you send out an email when there is a new trade? How do we know if you get filled on a particular trade. Given that there is no chat then the only way to know if something new happens is to keep hitting refresh on the forum or is there some other way to know? ThanksMarch 15, 2016 at 2:17 pm #5005
Just filled on SPX May2 1790/1800/2140/2130 @ 1.8March 15, 2016 at 2:26 pm #5006
Hey Roger! Trade entry/adjustments/exits will be sent out via email. Potential adjustments, what ifs, fills and other stuff will be discussed in this thread. Once you check off the option “Notify me of follow-up replies via email” in Trade Discussion you will get an email with details. Hope this clears it up a bit.
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