I am going to add a Bull Put spread 1/2 size around 15 delta here. This adjustment will leave NET delta negative and I will look to make adjustment on the upside IF/WHEN short call’s delta reaches 25-30.
SELL -5 VERTICAL SPX 100 (Weeklys) 1 JUL 16 2000/1990 PUT @1.00 LMT
Mid price shows 1.00 but .90c or higher is a good trade.
This trade has 31 days until expiration. I wont look to adjust on the downside until around 2060, where this IC starts to turn NET long delta.
