Opening (Margin): /MES April 21st 4010 Short Straddle

24. Feb. 2023

... for a 242.75 credit.

Comments: Ask (for higher IV) and you shall receive ... . 3767.25/4254.75 break evens on buying power effect of less than the credit received. Although I look for 25% max out of short straddles, I won't hesitate to take it off in profit early, since this is a tad longer dated than I like to start out with (56 days until expiry).

26. Feb. 2023

Trade ist aktiv

Selling the slightly long delta-skewed 4040 short straddle here for a 234.75 credit to bring me back to net delta flat. This is more about getting to the size I want to devote to a position than a delta adjustment. Total credits collected of 477.50 ($2387.50 max).

27. Feb. 2023

Trade wurde manuell geschlossen

Since this is somewhat early in the cycle, money, taking, running here with this little bit of vol contraction. Closed the entire position for 459.75. (477.50 - 459.75)/.2 = $88.75 profit. Will re-establish here shortly ... .