Opening (IRA): SPY Feb 24th/April 21st 397.5/440 LPD*
Updated
... for a 31.16 debit.
Comments: Short delta hedge against a long delta portfolio ... . Buying the -90 put in the back month and selling the +30 short in the front. 31.16 cost basis with a 408.84 break even on a 42.50 wide. As with my other short delta hedges, will look to roll the short option aspect out in time to reduce cost basis.
Comments: Short delta hedge against a long delta portfolio ... . Buying the -90 put in the back month and selling the +30 short in the front. 31.16 cost basis with a 408.84 break even on a 42.50 wide. As with my other short delta hedges, will look to roll the short option aspect out in time to reduce cost basis.
Trade active
Rolled the Feb 24th 397.5 to the March 10th 399 for a 2.38 credit. 28.78 cost basis with a 411.20 break even on a 41 wide. Trying to keep the position at around -60 delta.Trade active
Taking profit here ... . Closed for 31.27 credit. 31.27 - 28.78 = 2.49 ($249) profit.
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