Opening (IRA): IWM Oct 25th 185/207.5/207.5/230 Iron Fly

Sep 6

... for a 12.32 credit.

Comments: More small stuff while I thumb twiddle, waiting for longer-dated setups to play out.

Metrics:

Buying Power Effect: 10.18
Max Profit: 12.32
25% Max: 3.08
ROC at 25% Max: 25.00%
Break Evens: 195.18/219.82

Sep 13

Trade active

With 42 days to go, doing a delta adjustment here so that the setup doesn't get too directional: Rolling the -207.5P/230C to the -212.50/235C for a 2.31 credit on BPE of 2.69. Total credits collected of 14.63 on a 5-wide inversion. Break evens now 197.87/249.63.

Sep 13

Note

Correction: Break evens now 212.50 - 14.63 or 197.87 on the put side; 207.50 + 14.63 or 222.13 on the call ... .

Sep 18

Trade active

Uninverted the short strangle body from the -207.5C/-212.5P to the -207.5P/-212.5C for a 5.04 debit; 9.59 net credits collected with 197.91/222.09 break evens. The resulting setup is a 185/207.5/212.5/235 iron condor (which I'll probably have to adjust a little bit; the short put is at the 21 delta; the short call at the 69).

Sep 19

Trade active

Rolled the -207.5P/235C up to the -217.5P/245C for a 3.52 credit; 13.11 net credits collected on a five-wide inversion.

Sep 25

Trade active

Uninverted the -212.5C/-217.5P to the -212.5P/-217.5C for a 5.04 debit. 8.07 net credits received.

Sep 27

Trade active

Rolling back to a fly with 28 days to go ... . Rolled the 185/212.5 to the 199/217.5 for a 1.08 credit. 9.12 net credits.

Oct 4

Trade closed manually

With 21 days to go, closing for a small winner ... . Closed for an 8.50 debit; .62 ($62) profit.