SPX FEB IRON CONDOR

[IncomeLab (Old)]

Sold SPX FEB Iron Condor
65DTE
SPX:2003
IV: 20.08%
Credit: 160
Margin: 840
ROR: 19.04%
2150/2160 bear call
1750/1740 bull put

SOLD -10 IRON CONDOR SPX 100 FEB 15 2150/2160/1750/1740 CALL/PUT @1.60

[IncomeLab (Old)]

2150 call delta went from 9 to 20 in 2 trading days..

I am going to buy 1 2160 call (17 delta) to cut my position directional exposure from +30 delta to +13

THE GREEKS:

[IncomeLab (Old)]

I might do a greedy pig roll here with SPX around 2057 and my bull put spread is 300 pts under the market:

1. Close original bull put spread for .10c debit
2. Open a new bull put spread closer to market for additional credit (will help to pay for the earlier adjustment, see above)

BOT +10 VERTICAL SPX 100 FEB 15 1750/1740 PUT @.10

[IncomeLab (Old)]

It’s time for the PIG-ROLL:

SOLD -10 VERTICAL SPX 100 FEB 15 1940/1930 PUT @.85 CBOE

New P/L graph:

[IncomeLab (Old)]

Closed FEB 2150/2160 bear call:

BOT +10 VERTICAL SPX 100 FEB 15 2150/2160 CALL @.05 CBOE

New P/L:

With 18 DTE I may just leave this alone, keeping an eye on the put side as short strike’s delta is around 23 right now.

[IncomeLab (Old)]

Sold 1/2 size 2080/2090 bear calls vs 1940/1930 bull puts to reduce directional exposure and increase theta a little bit:

SOLD -5 VERTICAL SPX 100 FEB 15 2080/2090 CALL @.90

Did I say I was going to leave this trade alone after last adjustment? Yeah..

[IncomeLab (Old)]

Closed 1930/1940 bull put spread for .20c debit:

BOT +10 VERTICAL SPX 100 FEB 15 1940/1930 PUT @.20 CBOE

Opened 2070/2050 bull put for 7.45 cr:

SOLD -5 VERTICAL SPX 100 FEB 15 2070/2050 PUT @7.45 CBOE

New P/L:

[IncomeLab (Old)]

Bought back 2 of 5 2080/2090 bear calls for 5.20
Looking for this breakout in SPX to hold and run to ATH.

New P/L:

[IncomeLab (Old)]

Closed 2080/2090 bear call:

BOT +3 VERTICAL SPX 100 FEB 15 2080/2090 CALL @7.70 CBOE

[IncomeLab (Old)]

Expired 2050/2070 bull put spread.

P/L: 2105
Max Margin: 9340
ROR: 22.53%

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