$NFLX MAR20 Iron Condor entry

28jan - earnings couple days ago and had a couple profitable premium selling trades. want to get into an iron condor while IV is still a bit higher than average. the Mar opex is 52days out so better premium received. goal is always to collect about a third the width of the strikes if possible. so today with stock near 350ish.

Sold the 305/315 credit put spread (18delta for 315 strike)
Sold the 380/390 credit call spread (25delta for 380 strike)
Total credit for this Iron condor is $3.42 per lot , IV was at 30ish

probably get some movement based on Disney earnings next week. the 305/315 strikes.. worked out to match the delta I was looking for AND being right under the 50day moving average.

Exit targets are between 25-50% of max profit and / or about 21 days left to opex. about 21 days is the optimum exit point since you have the meat of the time decay and IV crush vs trying to milk for every last cent.

MAR 6 $LULU iron condor entry

28jan - another LULU iron condor. been getting good trades with LULU so far. goal to enter a trade for iron condors is close to 45days to opex so went to MAR 6 opex. a 16ish delta is about a one standard deviation move so just used the deltas for strike selections.

Sold the 210/220 credit put spread (16delta at 220strike)
Sold the 255/265 credit call spread (21delta at 255strike)
total credit for this iron condor is $2.47

stock was near 238 with 38 days to go.

Target exits of between 25-50% of max profit and / or near 21 days left to opex.

15Jan update to the $ROKU feb14 Iron Condor entry

15 Jan update - made an adjustment to this iron condor yesterday with stock near 132. closed the put side for .38 profit and rolled the strikes down to 150/160. credit for 150/160 at $1.54.

adjusted iron condor for Feb14
115/120 calls
150/160 puts
adjusted credit received $2.87

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from 7Jan entry


added new $ROKU skewed iron condor Feb14 115/120 165/175 at 2.33 credit. wide bid/ask so went few cents above midpoint for fill. note 10wide on calls. 120puts 19delta, 165calls 22 delta 38days to opex, earnings are week after opex

doing a lot of trading on Roku since is IV is high. FEB14 is the last opex before earnings. I believe there is greater risk to the downside so for this skewed iron condor the put side is 5wide vs the call side at 10 wide. going 10 wide allows me to get more premium on the call spread

again looking to exit at 25-50% of max profit and/or near 21days left till opex. will be out of all ROKU iron condors (have several going) when earnings hit. I don't include earnings because the point of the exiting at 50%/21day guideline is that you get some time decay AND some IV contraction. including earnings will give you IV increase. so will have limited profits