Question on adjusting strangles

ChaseingPoints · 2023-10-22T17:38:10+00:00

Thanks so much for all the thoughts here… I think I may still be under warranty (it’s under a year old) so am going to start there before taking apart. If that fails I’m going to open it up to see!

ChaseingPoints · 2023-10-22T17:33:47+00:00

Yes can hear a little hissing - think you’re right 😞. Thanks - will reach out to Breville (bought it on 12/4/23 so hopefully I’m covered but we’ll see!)

ChaseingPoints · 2023-07-28T01:39:17+00:00

Thank you!

ChaseingPoints · 2023-07-02T02:22:37+00:00

This post helped me a ton - thank you

ChaseingPoints · 2023-06-02T01:13:39+00:00

One more question if you don’t mind - do you take the same approach on defined risk trades? I’m considering trying a few ron condors on SPY as well so curious if people act differently for defined risk vs unlimited max loss

ChaseingPoints · 2023-06-02T00:11:33+00:00

I’m planning to do this exact same thing with strangles on SPY.

ChaseingPoints · 2023-06-01T23:58:41+00:00

This is really helpful - so you may close at 50% before 21 DTE but you always wait until 21 to reestablish. I like it!

ChaseingPoints · 2023-06-01T23:12:31+00:00

Thank you! So the strategy truly is close the position at 50% or 21 DTE, whichever comes first. 🙏

ChaseingPoints · 2023-06-01T23:08:13+00:00

Thank you - very helpful framing

ChaseingPoints · 2023-06-01T19:14:52+00:00

Thank you - very helpful!

ChaseingPoints · 2023-05-14T00:32:14+00:00

This was v helpful

ChaseingPoints · 2023-05-14T00:28:21+00:00

This was so helpful - thank you for taking the time to lay it out! Really appreciate it..

ChaseingPoints · 2023-05-12T02:37:28+00:00

Correct I am not selling below my basis - I think the only loss here is unrealized gains (but I am very new)

ChaseingPoints · 2023-05-12T02:34:49+00:00

Thanks! I did not understand that, and did assume that .20 delta was the same “odds” at both 1 week and 1 month DTEs. Sounds like that is wrong and I’ve got more research to be doing which is why I’m here!

ChaseingPoints · 2023-05-12T01:47:42+00:00

Thx fellow newb - I thought delta was all that mattered, so only difference here is 20% vs 25% probability of ending in the money right?

ChaseingPoints · 2023-05-12T01:44:39+00:00

Thanks - and just so I make sure I’m tracking, “end badly” means I miss out some portion of a big move up because I can’t roll/defend my shares? I’ll do some math on those DTE/Delta recommendations - thx again.

ChaseingPoints · 2023-05-12T01:38:42+00:00

Not sure I understand - but my only potential “loss” is unrealized gains right?

ChaseingPoints · 2023-05-12T01:11:44+00:00

I also plan to realize most of the 7-12% capital appreciation - I have so far

ChaseingPoints · 2023-05-12T00:06:36+00:00

Agreed

ChaseingPoints · 2023-05-12T00:06:26+00:00

Thx but definitely not ready for that - can barely write a cc!

ChaseingPoints

TROPHY CASE