Email Alerts: 10/20/23 – Close ADBE, Adjust NTES, Adjust IWM

BTC 3 NOV 590 call
STC 3 NOV 595 call

Debit: around 0.40 – 0.62

Note: We initially took in 0.95 in credit, so I’m looking to get filled for around 0.40.  That would be a $55 gain on a $405 risk, giving us a return on risk of 13% per contract in 4 days.


STO 17 NOV 110 call
BTO 17 NOV 115 call

Credit: around 0.65

Note: We took in 1.30 in credit on 3.70 risk.  NTES has fallen off with the rest of the market this week, and so by adding a call spread, we’re adding additional credit to this trade to reduce risk.  The expected move for NTES through 17-NOV is +/- $10, so I want to add the call spread at the $110 level.

Roll the call spread in to create an iron fly.

BTC 17 NOV 187 call
STC 17 NOV 192 call
STO 17 NOV 174 call
BTO 17 NOV 179 call

Credit: around 1.00

Note: This creates an iron fly, reducing the risk on the trade by bringing in more credit and this position could still be profitable if IWM climbs back up into the 170 – 177 range.


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