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Open Short Dec15 Long Jan19 257P 263C Double Calendarwww.tradingview.com Been meaning to try one of these . . Debit 2.46 ($246.00) Theta 1.66 Delta 1.49 IV 10 IVR 12% Break-Even / Scratch 266.60 and 253.20 (13.40 profit range) SPY spot 259.97 Will set this to close at 10% -$25/contract (this is one) - If SPY sits as still as it has today will let it go to more profit Shorts are 23DTE and at that time with no move or volatility increase it would net $130 but will cover or adjust within 9-10 days. Even if it (ideally) sits still daily p/l will improve with closing at a lower risk time and redeploying the capitol.
AMEX:SPY
by Tom1trader
Opening Nov17 Short 259.5C and 256P Long Nov24 260.5C & 255P Double Calendar spread actually a tiny bet on little movement of SPY before Friday Debit $20/contract. Theta 14 Will take the short legs off with any sign of price jumping or within 2 days. A big price jump without the short legs could improve the profit so will be watching this closely and out by Friday. This time leverage can be powerful, that 14 Theta is because the longs will lose around 11 while the shorts are losing 25 in a day netting $14/day (here's the hitch, true if all else stays the same). An up move without the shorts will profit quickly but a down move even more so as the volatility should pop up increasing the value of the longs that I will be selling to close. We will see. Thanks for looking and keep smilng!
AMEX:SPY
by Tom1trader
UPDATE: IWM 11/17 135 LONG PUT-10/27 138 SHORT PUT DIAGONALThis trade started out as a same strike calendar with the back month at the 40 delta strike and the front month at the same strike (see Post Below). As price has moved and I've rolled aspects of the setup, it has now morphed into a diagonal, with a roll today from the October 13th 138 short put to the October 27th 138 short put for a realized gain and a .26 ($26)/contract credit to delta balance the setup and to further reduce cost basis since the short put was approaching 50% max. The previous scratch point was .72; it's now .46. Unfortunately, I don't have that many roll opportunities left to further reduce cost basis, so I'll need some fairly significant movement toward the put side to bail on this prior to back month expiry ... .
AMEX:IWM
by NaughtyPines
OPENING: IWM DEC 16TH 136.5/JAN 20TH 140 CALL DIAGONALTruth be told, I'm not a big fan of low vol strategies such as calendars and diagonals, but am going to putz with one here. From a trade management standpoint, the notion is to take off the short call at or near worthless or roll it to the Jan expiry for additional credit, resulting in a Jan 20th 136.5/140 short call vertical. You then manage the setup as you would any credit spread. As with calendars, this particular setup doesn't have a set profit potential; the profit will entirely depend on what occurs with price and whether volatility expands. However, the front month, short option's theta will decay faster than that of the back month ... . Filled for a .01 db.
AMEX:IWM
by NaughtyPines
2
FX CHART OF THE DAY: AUDUSD ON RISK OF FURTHER DECLINEAUDUSD confirming another test of its downtrend on weekly basis, by bouncing of lower 1st standard deviation from weekly (120-h) mean. Expanding volatility (marked by 3.2 standard deviations from weekly mean) is confirming the risk of further delcine. Traders can take short off the lower 1st standard deviation (at 0.6940) and stop at the weekly mean (at 0.7010). Traders should also mind the AUD calendar news incoming over the next 2 days!
Short
by Killy_Mel
FX CHART OF THE DAY: EUR LIKELY TO REVERT UP TO ITS MEANAfter a sharp up move earlier this week EURUSD has retraced its gains significantly. However it did not yet enter a downtrend on weekly basis - price is returning to its 1st standard deviation from weekly (120-h) mean amid compressing volatility (marked by 3.2 st deviations from the mean) Thus the price is likely to revert up to the weekly mean within a day or two Traders can pick long positions close to lower 1st st deviation from weekly mean (1.1270) with stops below relevant lows (at 1.1190) and target the mean (at 1.1410) Traders also should mind calendar events coming out on FRIDAY!=)
Long
by Killy_Mel
1