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Open Trade Alert: SPY October Butterfly Hedge
We’re hedging downside risk with the following butterfly position: Day limit order Buy to close 1 SPY Oct 113 put Sell to open 2 SPY Oct 103 puts Buy to open 1 SPY Oct 93 put for a net debit of $2.34...
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Adjust Trade Alert: SPY October Butterfly Hedge
We’re adjusting the SPY October 93/103/113 put butterfly hedge to create a theta-positive position with delta closer to neutral. We’re accomplishing this with the following iron-condor trade: Day limit...
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Adjust Trade Alert: SPY October Butterfly Hedge (Adjustment #2)
As traders and investors continue to accumulate shares this afternoon, SPY is within about $0.50 of our current upside risk-management price threshold. In preparation for possibly opening an upside...
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Open Trade Alert: SPY October Butterfly Hedge #2
We’re opening the following position to hedge our upside delta and vega risk: Day limit order Buy to open 2 SPY Oct 130 calls Sell to open 4 SPY Oct 124 calls Buy to open 2 SPY Oct 118 calls for a net...
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Close Trade Alert: SPY October Butterfly Hedge #1 (Adjusted)
We’re unwinding our October portfolio starting with the upside risk from the adjusted BF#1, as follows: Day limit order Sell to close 1 SPY Oct 127 calls Buy to close 1 SPY Oct 125 calls for a net...
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Close Trade Alert: SPY October Butterfly Hedge #2
Because our two remaining October positions have opposite delta and vega, we’re going to try to flatten out both as nearly simultaneously as possible. Here’s the first order: Day limit order Sell to...
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Adjust Trade Alert: SPY November Butterfly Hedge (Adjustment #2)
As planned, we’re rolling a portion of our current November butterfly hedge into a delta-neutral iron condor, as follows: Day limit order Buy to close 1 SPY Nov 119 put Sell to close 1 SPY Nov 125 put...
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Adjust Trade Alert: SPY November Butterfly Hedge (Adjustment #3)
With SPY over $127, we can afford to reduce our downside hedge position. We’re rolling another portion of the November put butterfly into a delta-neutral iron condor, with the following order: Day...
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Open Trade Alert: SPY November Butterfly Hedge #2
It might feel like today’s 40-point plunge in the S&P was planned to make a mockery of my statement yesterday that “we can afford to reduce our downside hedge position.” But the market will do what...
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Adjust Trade Alert: SPY November Butterfly Hedge #1 (Adjustment #4)
We’re rolling the remainder of this position into an iron condor, with the following iron-condor order: Day limit order Buy to open 1 SPY Nov 134 calls Sell to open 1 SPY Nov 132 calls Sell to close 1...
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