ThetaTactics

 Hi readers! This is just another routine update on my blog position. Here is the update for today: For both of my positions, I have not made any adjustments, but they are profiting fine. My AMD position is profiting very nicely, and is profiting even more everyday. This is due to my AMD position having 20 short options and only 12 long options. So, the theta gain from the short options overcompensates for the theta decay from the long options. For my QQQ position, it is profiting about $6000, which is nice, but it was profiting at about 11,000 dollars a couple of days ago. So, since that means the stock is probably slowly going up, I might tighten the position by selling the calls and buying calls with a strike price that is closer to the actual stock price right now, so when the stock goes up, the calls will be actually making money when the puts are losing profits. Here is my current position: That is it for today's update, readers! Thank you for reading today's post! See yo

 Hi readers! This is just a routine update on my position. I have made a good amount of adjustments, so here are the updates: For my QQQ spread, the stock price went all the way down to around 355, so my 364 puts were making a lot of money, but my 364 calls were losing a lot of money, too. So, I tightened the position by selling the calls and buying 10 of the Nov 3 353 calls, just to tighten the position and hedge against a big move back to the upside. Also, I calculated the thetas and deltas for my position, so to bring them near 0, I shorted 10 of the Nov 3 360 calls. This has also profited so far, and I am happy about that. Overall, I am currently making a nice profit on my QQQ position. For AMD, I am down by a bit of money, but that is primarily because of my straddle. I tightened it recently, so the photo below will show my current position on AMD. Tomorrow, I plan to exit the 99 calls and maybe the 96 short puts. My plan is to sell the 99 calls and buy calls near the current stoc

 Hi readers! This is just a routine update on my blog. This is a small update, so here it is: My SPY position is at a loss of about $1,500 right now, and that is because the October 20th 422 puts are losing $6,040. My short calls I shorted on Monday are up around $2,700, and the 422 calls are up $1,700, so shorting the calls was a great move. I guess I should have tightened the straddle first, and got out of the puts on Monday and bought some puts closer to the stock price. That would have cut my losses (I would actually be profiting on the position right now), and it would have hedged a huge move to the downside. Its all okay, though, as losses are a part of trading. Now I have learned that I should probably tighten the straddle first if the stock makes a huge move. I will probably just wait and see what happens to the position, and I am ready to take a loss on it. The position expires on October 20th, so maybe my position profits by then? What happened was that my long calls and shor

 Hi readers! This is an update on my options positions. Here is the update: First, I had an adjusted time value spread on AMD, and it expired yesterday. I am happy to say that it resulted in a nice profit! The short 110 calls were up by about 1,500$. I sold the 98 calls, which profited by about 2,000$. So, this was another successful trade!  For the SPY straddle, I did not change much. To bring my thetas and deltas to near 0, all I did was short 21 of the October 20 426 put. In the half-day I had them, they are already up 168$, which is nice, but the profit on them will definitely go up as the expiration date comes closer. I plan to close out on the 422 puts, which are losing a lot of money right now, and use that same money to buy some puts that are closer to where the stock is right now, at around 430. I will do this to hedge against any big move to the downside, and I will buy the puts based on my delta and theta position once I close out of the 422 puts. For future trades, I plan t

 Hi readers! This is just a small update on my trading position. Here it is: Yesterday, SPY was at 422, so I decided to buy an ATM long straddle. Here is the picture: So, I will wait and see if SPY makes any big move, and I will adjust my position accordingly. If it does not make a big move, I will have to start shorting options to take advantage of the low volatility. Also, the expiration cycle for this straddle is October 23. I am also planning to buy some time spreads this week, so be on the lookout for another post! That’s it for today, and that you for reading!