Weekly Trade Update - Week 30
Hi steemians and option traders,
this week markets calmed down a bit.
Let's go right to my positions.
GLD Short Straddle in December
I collected $4.23 for this straddle.
My profit target, as always for short straddles, is 25% of max profit ($1.05).
So I'm going to close this position when it trades for $3.17 or at 21 DTE.
At the moment this position is up 41 cents ($41 per one lot).
XLE 30 Delta Short Strangle in December
I collected $2.77 for this short strangle.
My profit target, as always for short straddles, is 50% of max profit ($1.39).
So I'm going to close this position when it trades for $1.39 or at 21 DTE.
At the moment this position is up 46 cents ($46 per one lot).
Short Strangle in IWM in December
I collected $5.34 for this short strangle.
My profit target, as always for short strangles, is 50% of max profit ($2.67).
So I'm going to close this position when it trades for $2.67 or at 21 DTE.
At the moment this position is down 19 cents ($19 per one lot).
Short Straddle in FXE in December
I collected $2.71 for this straddle.
My profit target, as always for short straddles, is 25% of max profit (68 cents).
So I'm going to close this position when it trades for $2.03 or at 21 DTE.
At the moment this position is up 25 cents ($25 per one lot).
Short Straddle in TLT in December
I collected $3.85 for this straddle.
My profit target, as always for short straddles, is 25% of max profit (96 cents).
So I'm going to close this position when it trades for $2.88 or at 21 DTE.
At the moment this position is down 61 cents ($61 per one lot).
Short Strangle in QQQ in December
I collected $6.80 for this short strangle.
My profit target, as always for short strangles, is 50% of max profit ($3.40).
So I'm going to close this position when it trades for $3.40 or at 21 DTE.
At the moment this position is up 92 cents ($92 per one lot).
Closing QQQ Broken Wing Call Butterfly in December
I collected $2.01 for this BWB. The max profit is $7.01 ($701 per one lot).
As always for broken wing butterflies my profit target is 25% of max profit ($175).
So I'm going to close this position when it trades for 26 cents or at 21 DTE.
Markets moved down pretty quick on Monday, so I closed this position for a profit of $117.
Book News
My book is available at huge discount at the moment on Google Play, so buy as long as it is still cheap.
Today I started a new book project in addition to my first book, which will be available for FREE for EVERYONE on all platforms:
Today they talked about it on the tastytrade show:
Have a great weekend,
Stephan Haller
Legal disclaimer: These are not trade recommendations. Options involve risk and are not suitable for all investors. The trades shown above are for educational purpose only.