ALTB - Adjustment
Our target price of $.15 was hit on the Call Spread side of this trade. This locks in some credit and gives us the opportunity
ALTB - Adjustment
SPY has shifted up a bit, giving us the opportunity to lock in our credit on the Put side of this trade.
ALTB - Closed SPY Long Term Iron Condor - FEB17 187/191/226/230
SPY just keeps going up. I personally don't feel like it will keep going much longer but the risk is present and we need to close the trade down.
ALTB
A nice trade. The Fed Announced the rate increase as expected and the market dropped a bit but stayed solidly within the expected range. We had an opportunity to close the trade at roughly a 30% profit during today's session and took it.
ALTB - SPY Dual Calendar Fed Trade - Update
We are going into the close in a great spot to make additional profits by holding the trade. Our main goal is to have SPY stay roughly within the $225.50 to $228.50 range but anywhere near the $225.50 strike is good for us. Theta erosion will give us a nice boost overnight. We will look at the position during the ALTB tomorrow and work on the close decisions during class.
ALTB - Open SPY Fed Rate Trade - Dual Calendar DEC16/DEC28 225.5/228.5
There is an elevated IV in the short-term SPY options. This is being driven by the Fed rate announcement at 2:00 and even more by the Yellen interview at 2:30. We are playing the shift in IV between the exp[irations as the Fear and Uncertainty