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Adjusting

Rolling the ADBE Iron Condor

I am rolling the ADBE Iron Condor to February and tightening the put side wing. This adjustment reduces the position risk by collecting additional credit and by reducing the maximum possible loss. There is already no risk to the upside as the credit exceeds the width of the call spread.…
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Adjusting the PYPL Position

PYPL’ s share price has been strong. I decided to move up the put side of the iron condor in the same month in order to collect additional premium and to minimize the damage if the share price continues to rise. Bought PYPL 01/15/21 Put 175.00 @ 0.97Bought PYPL 01/15/21…
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Another Adjustment to the ADBE Position

ADBE’s share price remains weak. I am rolling the position to January and rolling down the call side to reduce the debit in order to keep this dream alive. Bought ADBE 12/18/20 Put 500.00 @ 33.73Bought ADBE 01/15/21 Put 475.00 @ 24.13Sold ADBE 12/18/20 Put 475.00 @ 18.02Sold ADBE 01/15/21…
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Adjusting the ADBE Position

ADBE’s share price continues to decline. I am rolling the positon to December and lowering the strikes on the call side. This move costs a debit of of $.75. I do not usually pay up to adjust a positon, but am making an exception here to keep the dream alive.…
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Adjusting the CRWD Position

I held on to the CRWD position a bit too long letting my profit dwindle. I am determined to make this a winner so I have decided to take off the call side given the ongoing share price weakness and roll the put side to December to collect another $1.65…
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Rolling the ADBE Iron Condor to November

ADBE’s share price has been struggling to stay above $500. I am rolling the position to November given its rapidly approaching expiry in order to have more time for it to work out in my favor. I am adjusting the call strikes to collect more credit. The new position is…
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ZM Short Calls Assignment

A portion of my ZM short calls were assigned so I sold the corresponding number of long calls and covered the short stock. I still am holding on to the remainder of the original iron condor. I will take the entire loss tomorrow at expiry. This was a frustrating trade…
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Rolling Gold Puts to October

Gold prices have been weak so I am rolling the puts to October to collect an additional credit while waiting for a rebound. I received an additional $15.80 per contract on the roll so the new position is Sold /GC Oct 1930P for a credit of 66.40. This trade is…
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Going Defensive on the Crude Trade

Crude prices remain strong so I am taking a defensive posture by rolling the short call to August as well as selling an August put. I am moving up the strike price on the call to increase the probability of making money on this trade. Undefined risk trades such as…
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Buying Back the Crude Put

Crude has run up past $40 now so I am buying back the put for an $0.80 debit. It will be interesting trying to make money on this position if crude holds above $40. The new position is Sold /CL Jul 35C for a $4.64 credit.
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Rolling Up the CCJ Puts

I am rolling the CCJ $8 puts up to the $9 strike as the share price of CCJ is on a bit of a tear. Rolling the puts up resulted in a collection of $.28. Additional large uranium mines are shutting production resulting in an increase in the price of…
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Adding to MGM

I am buying back the MGM Apr 20 Call for 0.30 on the severe share price drop and buying shares outright. The new position is MGM Apr -17 Put for 3.00 credit. MGM 100 @ 9.77. I will consider selling calls on a pop in share price or buying more…
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Converting MGM into a Strangle

I am selling calls into strength against my short put position in MGM. The stock rallied today and really took off when the US Administration spoke about providing support to the industry in light of COVID-19. I am not a supporter of corporate bailouts as they tend to reward bad…
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Adjusting the NOB Spread

Rolling out this spread to June expiry to buy some more time to be right. Position adjusted as follows: Original: Sold /ZB Mar 164′ 29 and bought 2 x /ZN Mar 131’24 Closed: Bought /ZB Mar 166′ 24 and sold 2 x /ZN Mar 132’21 Sold /ZB Jun 165′ 25…
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Rolling Out Natural Gas

Well the bottom fell out of natural gas so I will be holding onto it until it recovers. Therefore, I will roll my position from February to March. The good news is that natural gas is in backwardation resulting in a lowered cost basis. I am selling /NG Feb for…
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