Weekly Trade Updates - Week 11

Hi Steemians,

here are my weekly trade updates for Friday June 8th, 2018.

XLE Short Straddle:

This position started out as a July 71/77 short strangle.
Yesterday I had to roll up the 71 put to the 77 strike, since my short call got tested.
Now I have the July 77 short straddle on, for which I collected $3.65 in overall net credit.

source:tastyworks
At the moment the position is down 15 cents ($15 per one lot).
My profit target for this trade is $1.04, so I'm going to close this short straddle, when it trades for $2.61.

IWM Short Straddle:

This position started out as a July 157/165 short strangle.
Three days ago my short call got breached, so I had to roll up the 157 put to the 165 strike and create a short straddle.
I have now the July 165 short straddle on, for which I collected $5.38 in overall net credit.

source:tastyworks
At the moment the position is down 26 cents ($26 per one lot).
I'm going to close this straddle, when it trades for $3.65.

SPX Put Calendar Spread:

source:tastyworks
I bought this one for $14.65 early this week.
At the moment the position is down 90 cents ($90 per one lot).
I'm going to close this calendar spread, when it trades for $16.10 (110% of debit paid) or when the short put expires.

GLD Short Strangle:

source:tastyworks
I sold this strangle for $2.12, so I'm going to close it, when it trades for $1.06.
At the moment this position is up 80 cents ($80 per one lot).

TLT Short Straddle:

source:tastyworks
I sold this straddle for $3.41 two weeks ago.
My profit target is 25% of max profit, so 85 cents ($85 per one lot).
At the moment the position is up 30 cents ($30 per one lot.

FXE Short Straddle:

source:tastyworks
I sold this straddle a week ago for $2.53. The profit target for this straddle is 25% of the credit received, so 63 cents ($63 per one lot).
At the moment this position is down 4 cents ($4 per one lot).

QQQ Free Butterfly:

source:tastyworks

Due to the rally in the Nasdaq, this position is basically worthless, but since I already locked in a profit of 83 cents, I leave it on until next Friday, then I will close it to avoid exercise/assignment fees.

All in all a boring week, but this is what you get, when the VIX is this low.

I wish you a great weekend,

Stephan Haller

P.S. My book on options trading is in the final stage, just some minor adjustments and it will be published.
Stay tuned and watch https://www.tastytrade.com/tt/ while waiting.

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.