AMEX:XLE   SPDR Select Sector Fund - Energy Select Sector
Long via Jun15/Mar16 diagonal for $4.37

POP: 50%
Max Loss: $4.37
Stop Loss: Price at $64.40
Max win: As of right now, $263
Target: Price at $75

Long Jun15 $66 call: 61 delta
Short Mar16 $73 call: 14 delta.

I structured this trade to give me the most profit as close to my target as possible (in the case it shoots straight up), while still having a positive theta trade. For reference try to match the thetas of both options up for choosing a strike for your short.

I will continue to roll the short call each cycle to continue to eliminate basis as well.
Trade ist aktiv:
Added to this position on the strength on a pullback.

Feb23 66/67 short put spreads @ $.25

short $67 put: 38 delta
long $66 put: 26 delta

Max win: $50
Max loss: $150

Likely to let these expire worthless, but if we get a sharp reversal through my stop - I'll try to salvage a little bit of them.
Trade ist aktiv:
Price is continuing to get favorable, so I am going to dabble just a bit more. I also moved up my stop level to help reduce any risk.

I added a risk reversal for June15 expiration.
long $53 put: 7 delta
short $65 put: 33 delta
long $72 call: 35 delta

Overall trade was for $.04 credit.

Stop loss: Price at $66.50
Target: $72

Trade ist aktiv:
Still working with trying to keep this trade neutral to positive theta.

Sold the Apr20 54/64 put spread ($.91 cr) to reduce basis a bit further. This looks to be under some short term support here.

short 64 put: 25 delta
long 54 put: 5 delta

Max loss: $909
Stop loss: 2.5x cr received
Target: 50% cr received.

Kommentar:
I've also added a synthetic strangle here to capture some high IV/theta in the process.

Sold Apr20 60/66/72/78 iron condor for $1.69

POP: 51%
DTE: 62
Max Loss: $431
Max Win: $169
Stop loss: $338
Target: 50% of cr received

long 60 put: 13 delta
short 66 put: 32 delta

short 72 call: 25 delta
short 78 call: 8 delta

Trade ist aktiv:
The original $73 call on the core call spread position had widdled down significantly over this time and small down move. I rolled it out to the Apr20 $73 call for add'l $.26. The basis on that spread is now $4.11.
Trade ist aktiv:
Feb23 66/67 put spreads expired worthless, $50 profit.
Trade geschlossen: Stop wurde erreicht:
Stopped out of the risk reversal trade here for $1.28 db, $132 loss.
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