ThetaTactics

 Hi readers! I hope everyone had a fantastic Thanksgiving Break! I am back with some updates on my trading positions, and here they are: For my QQQ position, it is profiting nicely right now, about $4500. I feel like since the position expires on December 1st, it is too late to make any major adjustments to my positions, as those adjustments would take way longer to actually have any effect . But, the good part is that it is profiting, so hopefully the position continues profiting all the way until Friday. Maybe tomorrow, I might short some options just to make some extra money on that position, and take advantage of the huge time decay since it is pretty close to the expiration date.  For my SPY position, I am currently losing around $800. But, today I bought 10 of the SPY December 15 456 puts and sold 10 of the 454 December 15 puts. My plan was to just buy the puts, but I sold the 454 puts to cover most of the cost of the long puts. It turned out to be a good idea to short t...

 Hi readers! I hope all of you are doing well! This is just a routine update on my trading position. Here it is: For the AMD position, I tightened the position by selling the previous long puts, and I bought the 118 puts times 10. This is just to hedge against a big move to the downside. For the 99 calls, I am making a lot of money on those, since those are very much in the money. I also have 10 short 96 puts, and those are profiting nicely as well, due to theta decay working in favor for us. So, I am up around $22,000 on the AMD position. The November 10 short calls expired out of the money, but that is fine as I am made a lot more money as time went on for my AMD position. I have also made two new positions: A QQQ ATM Straddle in the expiration cycle of December 1st, and a SPY time spread. The long calls in the time spread expire on December 15, and the short calls expire on December 1st. For the QQQ straddle, the ATM price was 373, and the strike price for the time spread it was...

 Hi readers! This is just a routine update on my positions. This will be a short update. I will talk about what happened to my position in the previous week, and what I hope to do tomorrow. Here is the update: For the QQQ position, it profited around $2,000, which was awesome! I could have managed the QQQ position a bit better, because the amount it was in profit decreased a lot. That is a lesson learnt, and I hope to use that lesson in future positions. For the AMD position, it is profiting really well. It is profiting $12,554 currently. This is because AMD has been consolidating at around 113 for the past couple of days. This is a great price for my position, since it is profiting well. My long 99 calls are very much in the money, so those are the biggest winners right now. My short 96 puts are also good right now, as they are gaining value everyday due to theta decay in the corresponding long 96 puts. The only thing that is losing right now is the 105 calls. One thing I want to ...

 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 ...

 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 ...

 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,...