Recent Trading Activity
- Initiated an August SPX 2260/2270/2520/2530 Unbalanced Iron Condor on Thursday. Net Credit $1,500. The reason for the small total credit is that the position was initiated with only a 4 to 1 ratio of Put spreads to Call spreads. The adjustment point on the Call side for this position, initially would have been SPX 2,480. That number, as you know, moves up over time. But initially, that is roughly the SPX spot at which the short 2520 Calls would be reaching 30 deltas and triggering my adjustment decision. Well, SPX 2,480 happens to be uncomfortably close to the SPX 2,475 that I have established as the defense line for the July SPX Unbalanced Iron Condor. By playing a 4:1 ratio with the August position, the Call side adjustment can be delayed much further (~45 deltas, instead of 30). Up to around SPX 2,515. This provides us with better risk diversification across the spectrum of SPX prices.
- Initiated an August SPX 2260/2270/2520/2530 Unbalanced Iron Condor on Thursday. Net Credit $1,500. The reason for the small total credit is that the position was initiated with only a 4 to 1 ratio of Put spreads to Call spreads. The adjustment point on the Call side for this position, initially would have been SPX 2,480. That number, as you know, moves up over time. But initially, that is roughly the SPX spot at which the short 2520 Calls would be reaching 30 deltas and triggering my adjustment decision. Well, SPX 2,480 happens to be uncomfortably close to the SPX 2,475 that I have established as the defense line for the July SPX Unbalanced Iron Condor. By playing a 4:1 ratio with the August position, the Call side adjustment can be delayed much further (~45 deltas, instead of 30). Up to around SPX 2,515. This provides us with better risk diversification across the spectrum of SPX prices.
