Email Alerts: 12/5/23 – Close TRV, MDB, CME
Closing Order:
Ticker: TRV
Trade:
BTC 19 JAN 175 put
STC 19 JAN 170 put
GTC (closing order): 0.60 debit (or less).
Note: We entered for a 1.20 credit, so we’re looking to get filled for 0.60 debit or less for a win!
Closing Order:
Ticker: MDB
Trade:
STC 15 DEC 370 put
BTC 8 DEC 375 put
Credit: 0.95
Note: We placed this trade for a credit of 0.50, and looking to close this trade for an additional credit. This will represent about 10% of the peak of the max profit available on this trade.
Closing Order:
Ticker: CME
Trade:
BTC 29 DEC 210 put
STC 29 DEC 205 put
add GTC (closing order): 0.60 debit
Email Alerts: (Live Session 11/28/23) –
Here are the trades from today’s live session (11/28/23):
First up, let’s take PROFITS off the table on ELV. We initially took in 2.20 in credit. Look to exit the trade today, buying the spread back for 1.00 or less.
Ticker: ELV
BTC 15 DEC 450 put
STC 15 DEC 440 put
Debit 1.00 – 1.10Next is our trade on STLD. Of course, it finally broke out of its trading range when we had a neutral position, but that’s ok. We can give ourselves more time by rolling this trade out. We’ll also lift up the put strikes to bring in more credit.
Ticker: STLD
BTC 15 DEC 95 put
STC 15 DEC 90 put
STO 19 JAN 100 put
BTO 19 JAN 95 put
Credit of around 0.25
Ticker: STLD
BTC 15 DEC 115 call
STC 15 DEC 120 call
STO 19 JAN 115 call
BTO 19 JAN 120 call
Credit of around 0.20
NEW TRADES:
During the live session, we opened a new put spread on Travelers (TRV).
Ticker: TRV
STO 19 JAN 175 put
BTO 19 JAN 170 put
Credit: 1.22
Even though the bid/ask spread was all over the place, we took a shot on this next trade and ended up getting filled.
Ticker: CME
STO 29 DEC 210 put
BTO 29 DEC 205 put
Credit of 1.20 or more
Email Alerts: 11/20/23 – Close LNG, IWM
It’s always a good Monday when you can close a trade for profits!
Ticker: LNG (Cheniere Energy)
Trade Action: Close the existing put spread for a debit of around 0.55
BTC 15 DEC 165 put
STC 15 DEC 160 put
Note: We initially took in 1.16 in credit, so closing for 0.55 will give us a nice 15% return on risk from our entry date on 11/7.
Let’s also take this opportunity to close out of the IWM iron fly position. While the market remains overbought, it does tend to enjoy a holiday week. This trade will lose value if the market drifts higher.
Ticker: IWM (Russell 2000 ETF)
Trade Action: Close the existing iron fly for a debit of around 4.11
BTC 15 DEC 174 call
STC 15 DEC 179 call
BTC 15 DEC 174 put
STC 15 DEC 169 put
Email Alerts: (Live Session 11/14/23) – Close MA, STLD; Open MDB, ELV
Here are the trades from today’s live session (11/14/23):
TRADE CLOSE
Ticker: MA
BTC 15 DEC 380 put
STC 15 DEC 375 put
Debit of 0.46
We initially took in 1.08 in credit, so we are closing this trade for profits!
TRADE CLOSE
Ticker: STLD
BTC 15 DEC 115 call
STC 15 DEC 120 call
BTC 15 DEC 95 put
STC 15 DEC 90 put
Debit 1.35 (day order)
Note: With the market in full-bullish mode, I want to close this neutral trade. We initially took in 1.60 in credit, so after commissions this is a scratch to slightly positive trade. If we don’t get filled today, I will re-evaluate tomorrow.
TRADE OPEN (EARNINGS TRADE)
Ticker: MDB
BTO 15 DEC 370 put
STO 8 DEC 375 put
Credit: 0.50 (margin of $450)
TRADE OPEN
Ticker: ELV
STO 15 DEC 450 put
BTO 15 DEC 440 put
Credit: 2.20
GTC order to close for 1.20 (or 50% of the credit you receive)
NOTE ON SPY HEDGE LADDER
After looking at it in class, I decided there was not enough premium to sell. I’m keeping the position open to see if I can close at a better price in the future.
SCHEDULE NOTE:
OTL will not have a live session next week due to Thanksgiving. I will be back on 11/28, but I will still be monitoring the market and may send out trade alerts before then.
Email Alerts: 11/13/23 – Close NTES
TRADE CLOSE
NETEASE (NTES)
NTES has been caught up in the market moving straight up over the last couple of days. That is putting this iron condor position in jeopardy. The company also has earnings coming out in a few days, so I’m closing this trade and taking the loss. If you’re bullish on the stock, you could buy back the short call, giving you a put credit spread and a long call left. If NTES reports good earnings, you could see a profit. However, I’m going to close it down and move on.
TRADE ACTION: close the NTES iron condor for a debit of around 3.50.
BTC NTES 17 NOV 110 call
STC NTES 17 NOV 115 call
BTC NTES 17 NOV 100 put
STC NTES 17 NOV 95 put
Email Alerts: (Live Session 11/7/23) – Open LNG, MA
Trades from OTL Live (11/7/23):
Ticker: MA
STO 15 DEC 380 put
BTO 15 DEC 375 put
Credit: 1.08
Ticker: LNG
STO 15 DEC 165 put
BTO 15 DEC 160 put
Credit: 1.16