Trade Updates - Closing Winners in GLD and QQQ and a Delta Adjustment in TLT
Hi Steemians,
yesterday and today I made some position adjustments.
Closing GLD Straddle
I collected $3.42 for this straddle.
My profit target, as always for short straddles, was 25% of max profit (86 cents).
Today I closed it right at my 25% profit target, for a debit of $2.56.
So a nice profit of $86.
Closing QQQ Strangle
I collected $2.86 for this strangle.
My profit target was $1.43, but yesterday I closed it for a debit of $1.65.
So a nice profit of $121.
Delta Adjustment in TLT
This position started out as a October 121 short straddle.
I collected $3.11 for this straddle.
Today my downside break even was hit, so I rolled down the call to the 117 strike and collected $1.29 in additional credit, as you can see in the picture below.
Now I am short the 121/117 inverted strangle
By rolling down the call I reduced my long deltas from 67 to 23.
My overall credit for this position is $4.40.
So at the moment this position is down 86 cents ($86 per one lot).
My original profit target of 78 cents hasn't changed.
So I'm going to close this position when it trades for $3.62 or at 21 DTE.
Book Update
My book should be live on amazon and iBooks within the next 2 days.
I will write an extra post about it with links and lots of screenshots.
Have a nice trading day,
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.