Position Updates - 2 Calendars, 2 Condors
Written on June 30, 2008 by OptionsRopeaDope
My open positions… Overall, down after today’s action, solely due to the IWM calendar. EEM was nicely up, and the SPX and Dow were flat, but all the losses went into IWM and the Nasdaq, which constitute the bulk of my positions. On one hand I’m a little upset, but on th other that’show the markets go sometimes. There will be other days where my positionsall benefit when the rest of the market is going the ther way, and it won’t be because I’m a genius.
IWM Calendar - 72 July/Aug
| RRDelta | 96% |
| RRGamma | -19% |
| RRVega | 41% |
Delta/Theta = 18.17
1 Day 1 Std Dev Move (.90 points)
Down 15%, and officially sick and in a coma. I’ll be adjusting first thing tomorrow, would have done it today but I missed the last 10 minutes when IWM fell nearly a whole point. Was avtually up nicely today before that. After hours activity shows plenty of action above the the close, so it might gap up tomorrow? Either way, Band aids are going on this one.
EEM Calendar - 140 July/Aug
| RRDelta | 31% |
| RRGamma | -6% |
| RRVega | 13% |
Delta/Theta = 8.27
1 Day 1 Std Dev Move (2.42 points)
Breaking even now after being underwater since I opened it, whew. As always a move down could hurt, but I have some space.
IWM Iron Condor - July 61/63 Puts, 79/81 Calls
No Greeks on this one, as it is just a bull put spread now I closed the call wing last week for .03, locking in a 5% gain overall. The put wing is where it started, and has a delta of 11 on the short put right now. Not willing to open up another call wing at this point, it is simply too close to expiration.
QQQQ Iron Condor - July 41/42 Puts, 51/52 Calls
| RRDelta | 17% |
| RRGamma | -13% |
| RRVega | -5% |
Delta/Theta = 4.74
1 Day 1 Std Dev Move (.71 points)
Short call is at 3, short put at 15, getting close to adjustment territory. Overall, the condor is slightly up, 2%.
If you don’t know what is up with these numbers, read this about how I look at greeks.
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Posted in Real Trades, Iron Condors, Calendars, QQQQ, IWM, EEM
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