Weekly Trade Update - Week 20

Hi Steemians,

here are my weekly trade updates for August 10th, 2018.

Let's have a look at my positions.

GLD Short Straddle

source:tastyworks
I collected $3.56 for this short straddle.
As always for short straddles my profit target is 25% of max profit (89 cents), so I'm going to close this straddle when it trades for $2.67 or when there are only 21 DTE.
At the moment this position is up 19 cents ($19 per one lot).

QQQ Broken Wing Call Butterfly:

source:tastyworks
I collected $2.31 for this trade, so at the moment this BWB is down $2.01 ($201 per one lot). My profit target on this trade is 25% of max profit ($1.58).
So I'm going to close this trade when I can close it for a debit of 73 cents.

IWM Short Strangle

source:tastyworks
I collected $3.30 for this strangle.
At the moment this position is up $1.28 ($128 per one lot).
My profit target for short strangles is 50% of max profit ($1.65).
So I'm going to close this position when it trades for $1.65 or at 21 DTE.

30 Delta Short Strangle in EWZ (Brazil)

source:tastyworks

I collected $1.91 for this strangle.
My profit target for short strangles is 50% of max profit (95 cents).
So I'm going to close this position when it trades for 95 cents or at 21 DTE.
At the moment this position is up 36 cents ($36 per one lot).

Short Straddle in TLT

source:tastyworks

I collected $3.63 for this straddle.
My profit target, as always for short straddles, is 25% of max profit (91 cents).
So I'm going to close this position when it trades for 2.72 cents or at 21 DTE.
At the moment this position is up 57 cents ($57 per one lot).

Short Straddle in FXE

source:tastyworks

I collected $2.56 for this straddle.
My profit target, as always for short straddles, is 25% of max profit (64 cents).
So I'm going to close this position when it trades for 1.92 cents or at 21 DTE.
At the moment this position is down 52 cents ($52 per one lot).
My downside break even got hit today and what started as a delta neutral trade, is now a long delta position with 68 long deltas.
So I had to do something today.

Delta Adjustment in FXE

source:tastyworks

I rolled down my 112 call (the untested side) to the new atm strike (109), collected $1.22 in additional credit and cut my long deltas in half, as you can see on the next picture.

source:tastyworks

Now I'm short the inverted September 112/109 strangle.
My overall credit for this position is $3.78. But my original profit target hasn't changed.
It is still 64 cents. So I'm going to close this position when it trades for $3.14 or 21 DTE.

XLE Strangle

source:tastyworks

I collected $1.50 for this short strangle.
My profit target for short strangles is 50% of max profit (75 cents). So I'm going to close this position when it trades for 75 cents or at 21 DTE.
At the moment this position is up 14 cents ($14 per one lot).




Have a wonderful weekend,
Stephan Haller

My book is still in review...

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.