Oct 012015

SELL STRANGLE M 100 NOV 15 57.5/42.5 CALL/PUT @1.60
Man I don’t want to do options right now,, but I couldn’t resist. It’s %100 IV and not near earnings. Implied volatility threw the roof. I couldn’t get filled at first so I drop the price one cent off mid price and filled. The trade never went in the red and I’m currently up %5 at the end of the trading day. I got $1.60 for it and that’s with a %80 probability of profit. Weighted to the down side a bit but that’s great cause if the price goes up it will flush out some volatility making the option’s lose value and if it goes down, well the call’s should lose value more than the puts will gain value with a -36 delta.  I think 52/53 will be a good settle down price for a couple weeks.


11/3/15 – BOT STRANGLE M 100 NOV 15 57.5/42.5 CALL/PUT @1.06
Got out today. Nice trade but man the stupid volatility kept popping back up for no apparent reason so what was a %50 winner became much less. Now with the earnings coming up, which also wasn’t apparent till today, I wanted to pull it off.