Trade Updates

Hi Steemians,

a week ago I posted some trade ideas:
https://steemit.com/trading/@stehaller/trade-ideas-for-today-s-pop-in-implied-volatility
https://steemit.com/busy/@stehaller/more-trade-ideas-for-this-high-iv-market

Today I want to give an update on how the trades did, a week after putting them on.

1. IWM 30 Delta Short Strangle

• for this IWM May 147/59 short strangle you would have collected $4.28 in net credit
• despite the ongoing down move, the short put was never threatened of getting tested, so no management was necessary
• using Thursday's closing prices (on Friday markets were closed) the strangle is trading at $3.70, so the trade is up 58 cents
  
  
  source: tastyworks

2. Short 30 Delta Put in KRE

• for this KRE May 58 short put you would have collected $1.06 in net credit.
• despite the ongoing down move, the short put was never threatened of getting tested, so no management was necessary
• using Thursday's closing prices (on Friday markets were closed) the short put is trading at $1.19, so the trade is down 13 cents
  
  
  source: tastyworks

3. Broken Wing Call Butterfly in QQQ

• for this QQQ May 162/165/185 BWB you would have collected $2.75 in net credit.
• thanks to the ongoing down move, using Thursday's closing prices (on Friday markets were closed) this BWB is trading at $1.70, so the trade is up $1.05
  
  source: tastyworks

4. Iron Fly in FB

• for this FB 120/160/160/200 May Iron Fly you would have collected $17.99 in net credit.
• FB had a pretty rough week, but in the end it bounced and is now trading at the same price than a week ago
• using Thursday's closing prices (on Friday markets were closed) the Iron Fly is trading at $17.00, so the trade is up $1
  
  source: tastyworks

5. GLD Call Broken Wing Butterfly

• for this GLD May 128/130/139 BWB you would have collected 56 cents in net credit
• GLD experienced a pretty big down move this week, so based on Thursday's closing prices (on Friday markets were closed) this BWB is trading at 14 cents, so the trade is up 42 cents
• you could buy now the 132 call and sell the 139 call for a debit of 35 cents. this way you would lock in a profit of 21 cents and still have the long 128/130/139 Butterfly on for free
  
  
  source: tastyworks

6. SPY Delta Neutral Iron Condor

• for this SPY May 234/248/268/274 iron Condor you would have collected $3.87 in net credit
• using Thursday's closing prices (on Friday markets were closed) this iron Condor is trading at $3.67, so the trade is up 20 cents
  
  
  source: tastyworks

None of the trades have reached our profit target yet.
So we sit and wait.

If you want to learn more about options trading you have to wait, until my book comes out.
Stay tuned and watch https://www.tastytrade.com/tt/

Have a wonderful weekend,
Stephan Haller

Legal disclaimer: These are not trade recommendations. Options involve risk and are not suitable for all investors. The trades shown below are for educational purpose only.