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Trade

Selling a Strangle in /ES Futures

The uptick in volatility is providing an opportunity to sell a strangle in /ES. My portfolio theta has been very low so this trade will help on that front. I am skewing the strangle to the downside as I want to keep the portfolio delta negative. Sold /ES Feb -3090…
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Natural Gas Again

How low will the price of natural gas go? No one knows, but I am looking for a bounce with this trade. Catching a fall knife perhaps, but it seems oversold. Bought /NG Feb for 2.129.
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Closing APA Straddle

This trade went in the wrong direction immediately. By following the mechanics of rolling the options, I was able to scratch the trade. It took about a month for this to play out. The market has been on an unrelenting tear which is limiting volatility related opportunities. There is very…
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Buying Natural Gas

Natural gas has been shellacked. I am already long by shorting puts, but this recent drop demands more action. Buying futures outright. Making a mental note that I won’t be adding to this position as it is already a large one in the portfolio. Bought /NG Feb for 2.214.
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Buying Silver

What is good for gold should be better for silver. So I am adding to my silver positions by buying the silver future. It is my intention to sell a call against the future at some higher silver price as volatility typically increases as precious metals prices rise. Bought /SI…
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Turning APA Strangle into a Straddle

Apache Corporation’s shares have taken a beating since I put on the December strangle. I am rolling this position into a January straddle with a 22.5 strike. This move gives me more time to be right, additional credit of $1.02 and positive delta as I lean toward the price rebounding…
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Closing the NOB Spread

I decided to close out the NOB spread when the opportunity came to scratch it. I won’t be so fast to put this trade on again given that I have scratched two of these spreads consecutively. I see some other opportunities on the horizon and this trade was taking up…
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Adding to NOB Spread

I am doubling up on this pairs trade as low volatility has offered scant opportunities elsewhere. Adjusted Cost Basis: Sold /ZB Mar 158′ 24 (corrected) and bought 2 x /ZN Mar 129′ 20 Added: Sold /ZB Mar 159′ 30 and bought 2 x /ZN Mar 129′ 255 New Adjusted Cost…
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Adjusting NOB Spread

Rolling out this spread to March expiry to buy some more time to be right. Position adjusted as follows: Original: Sold /ZB Dec 159′ 18 and bought 2 x /ZN Dec 129′ 18 Closed: Bought /ZB Dec 159′ 28 and sold 2 x /ZN Dec 129′ 145 Sold /ZB Mar…
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Opening a NOB Spread

I am going to try this Notes over Bonds trade again. Last time I took it off for a scratch. Hoping for a quick move in my direction this time around. Sold /ZB Dec 159′ 18 and bought 2 x /ZN Dec 129′ 18.
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Selling APA Strangle

Apache Corporation options have a high implied volatility rank so I am selling a strangle with a bit more room on the upside to take advantage of any future volatility decline. Sold APA Dec 22.5P/27.5C for a credit of 1.62.
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