Igor

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Viewing 15 posts - 1 through 15 (of 1,048 total)
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  • in reply to: SPX 11 AUG KISS Iron Condor (587) #8313

    Igor
    Keymaster

    We’re going to BUY TO CLOSE remaining Bull Put spread

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    BTC SPX 11 AUG 17 2345 Put
    STC SPX 11 AUG 17 2340 Put
    Total Debit: $0.10-$0.15

    in reply to: SPX 11 AUG KISS Iron Condor (587) #8312

    Igor
    Keymaster

    We’re going to BUY TO CLOSE 2490/2495 Bear Call spread

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    BTC SPX 11 AUG 17 2490 Call
    STC SPX 11 AUG 17 2495 Call
    Total Debit: $1.90

    in reply to: SPX 31 AUG Iron Condor (586) #8260

    Igor
    Keymaster

    We’re going to make an adjustment on the upside. 2510 call delta reached 20. Our goal is to remove 2/3 of our NET delta of this position. This is what it looks like currently:

    Our NET delta is around -60. We need to cut it down to -20. We’re going to add 40 delta by buying OTM calls in 8SEP cycle with 51 days to expiration. We’re picking up (4) 10 delta calls. This is what this position looks like after this adjustment:

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    BTO SPX 8 SEP 17 2540 Call
    Total Debit: $2.60

    in reply to: RUT 18 AUG EIP (573) #8257

    Igor
    Keymaster

    We’re going to add Tier 3 put butterfly, 20 points above Tier 2

    We’re going to:

    Buying (1) 1370 put
    Selling (2) 1420 puts
    Buying (1) 1450 put

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    BTO RUT 18 AUG 17 1450 Put
    STO 2x RUT 18 AUG 17 1420 Put
    BTO RUT 18 AUG 17 1370 Put
    Total Debit: $4.20

    P/L graph:

    in reply to: SPX 31 AUG Iron Condor (586) #8256

    Igor
    Keymaster

    We’re going to roll up 2290/2280 to 2370/2360.

    1. BUY TO CLOSE 2290/2280 for .40c or less

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    BTC SPX 31 AUG 17 2290 Put
    STC SPX 31 AUG 17 2280 Put
    Total Debit: $0.40

    2. SELL TO OPEN 2370/2360 Bull Put spread

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    STO SPX 31 AUG 17 2370 Put
    BTO SPX 31 AUG 17 2360 Put
    Total Credit: $0.90

    in reply to: Open Trade Update #8248

    Igor
    Keymaster

    SPX 11AUG KISS IC:


    Trade Plan: We’re going to stop out of this trade at a loss of 2X of our profit target (-1950). Our profit target is around 70-80% of MAX Profit (975)


    SPX 31AUG ICBASE:


    Trade Plan: We’re going to roll up 2290/2280 Bull Put spread up to 2350/2340 or to closest strike to 15 delta for a credit of .80c-.90c. We’re also going to BUY TO OPEN OTM call(s) to remove 2/3 of NET delta to lift T+0 line on the upside and control losses IF SPX continues to move higher.


    SPX 26JUL KISS IC:


    Trade Plan: We’re going to BUY TO CLOSE this IC for .30c or put orders to leg out of each side of this trade for .10c-.20c


    RUT 18AUG EIP:


    Trade Plan: We’re going to scale Tier 3 when RUT trades above 1430. Our current Profit Target is 800 and stop when P/L -800. If RUT trades below 1370, we’re going to scale out of Tier 2 and reduce our Profit Target to 400 while keep ing our stop the same (-800). If we scale Tier 3, we’re going to raise our Profit target and stop to 1200.

    in reply to: SPX 31 AUG Iron Condor (586) #8245

    Igor
    Keymaster

    We’re going to roll up our put spread from 2290 to 2350 in 2 steps:

    1. BUY TO CLOSE 2290/2280 BULL PUT SPREAD

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    BTC SPX 31 AUG 17 2290 Put
    STC SPX 31 AUG 17 2280 Put
    Total Debit: $0.40

    2. SELL TO OPEN 2350/2340 BULL PUT SPREAD

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    STO SPX 31 AUG 17 2350 Put
    BTO SPX 31 AUG 17 2340 Put
    Total Credit: $0.80

    Note: This adjustment does NOT fix the upside, but it brings in an additional credit that can be used to hedge the upside IF SPX breaks out above previous all time highs. Our plan is to use OTM options to hedge on the upside when short strike’s delta goes above 20 (currently about 16 or so).

    in reply to: SPX 11 AUG KISS Iron Condor (587) #8236

    Igor
    Keymaster

    We just added ICBASE last week and putting another ICBASE would be doubling the risk without getting any significant increase in reward. This trade (KISS IC) is a shorter duration trade and is a good cash flow trade, IMO.

    –Igor

    in reply to: SPX 11 AUG KISS Iron Condor (587) #8235

    Igor
    Keymaster

    Igor – A quick question – Why did you go for a KISS IC rather than an ICBase IC which is more flexible?
    – Many thanks

    in reply to: Open Trade Update #8230

    Igor
    Keymaster

    SPX 26JUL KISS IC:

    Current P/L: +600
    Trade Plan: We’re looking to BUY TO CLOSE this IC for .30c debit.

    SPX 31AUG ICBASE:

    Current P/L: +450
    Trade Plan: We’re going to make adjustments WHEN/IF short strike’s delta reaches 20-25. This trade is slightly ahead, currently at around 17% of max profit in 5 days since entry.

    SPX 11AUG KISS IC:

    Current P/L: 0
    Trade Plan: looking to capture 70-80% of max profit while risking 2X profit target.

    RUT 18AUG EIP:

    Current P/L: +200
    Trade Plan: Add Tier 3 above 1430, current profit target 800, stop -800. Scale out of T2 below 1370

    in reply to: SPX 21 JUL Iron Condor (544) #8220

    Igor
    Keymaster

    We’re going to BUY TO CLOSE this Iron Condor, leaving OTM call hedges to either expire or close for what they’re worth

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    STC SPX 21 JUL 17 2495 Call
    BTC SPX 21 JUL 17 2485 Call
    BTC SPX 21 JUL 17 2340 Put
    STC SPX 21 JUL 17 2330 Put
    Total Debit: $0.50

    in reply to: SPX 31 AUG Iron Condor (586) #8218

    Igor
    Keymaster

    We’re going to change strikes to:

    2290/2280 Bull Put spread
    2510/2520 Bear Call spread

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    BTO SPX 31 AUG 17 2520 Call
    STO SPX 31 AUG 17 2510 Call
    STO SPX 31 AUG 17 2290 Put
    BTO SPX 31 AUG 17 2280 Put
    Total Credit: $1.70

    in reply to: SPX 26 JUL KISS Iron Condor (583) #8207

    Igor
    Keymaster
    in reply to: SPX 26 JUL KISS Iron Condor (583) #8206

    Igor
    Keymaster

    Igor – Have you been filled on this trade yet?
    Many thanks

    in reply to: SPX 26 JUL KISS Iron Condor (583) #8195

    Igor
    Keymaster

    We’re going to adjust strikes and try this trade again:

    2490/2495 Bear Call spread
    2365/2360 Bull Put spread

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    BTO SPX 26 JUL 17 2495 Call
    STO SPX 26 JUL 17 2490 Call
    STO SPX 26 JUL 17 2365 Put
    BTO SPX 26 JUL 17 2360 Put
    Total Credit: $0.80-$0.90

Viewing 15 posts - 1 through 15 (of 1,048 total)