Closing

I am closing the BABA iron condor for a $2,100 profit per 10 lot. This underlying is still a good candidate for selling premium, but I will wait for an uptick in volatility. STC BABA Dec 235 P / BTC BABA Dec 250 P / BTC BABA Dec 320 C…

Closing the CRWD position on its recent rally for a profit of $2,850 per 10 lot. CRWD Dec 110P/-130P for a debit of $5.05.

It has taken some time for this iron fly to become profitable. I am closing the unbalanced iron fly in UVXY for a $650 profit per ten lot. UVXY Nov 10P/-21P/-21C/26C for a debit of 5.25.

I am closing the DOCU iron condor for a $1,420 profit per 10 lot. It seems prudent to take off some exposure here. DOCU Nov 170P/-180P/-260C/270C for a debit of 1.88.

Amazon will be releasing earnings on October 29. I want to be out of the iron condor before volatility rises going into earnings. Closing it now for a $2,100 profit per 10 lot. AMZN Nov 2500P/-2520P/-3680C/3700C for a debit of 4.70.

The ZM position closed out today for a $6,160 loss for a 10 lot. The share price was so strong that there was not much that could be done to salvage the position. Losing some is part of the process. It’s about putting the probabilities in your favor, but there…

This trade took nearly six weeks to work out. It looked ugly for a while, but eventually became a decent winner. Keeping position size in check is key. It is emotionally difficult to keep holding a large position when it goes wrong and margin calls are always a risk. Bought…

Crude’s volatility has declined so I am closing out the crude strangle for a $690 profit per contract made in two weeks. Bought /CL Nov 36P/42C strangle for a 2.88 debit.

Gold prices have rebounded, volatility has dropped and enough time has passed to buy back the October put for a $4,000 profit per contract. Bought /GC Oct 1930P for a credit of 26.40.

GDXJ’s price bounced around some without taking off in one direction, volatility came in and time went by making this trade a winner. I am taking off the GDXJ iron fly for a profit of $1,370 per 10 lot. My target profit for a straddle or iron fly is approximately…

Corn prices have been rising so I am taking this opportunity to close out the trade for a profit. Bought /ZC Sep 320P for a 2.50 debit.

Tilray (TLRY) dropped after its earning release on August 10, but the stock has been slowly rebounding and its implied volatility decreasing. I am able to buy back the puts for a $400 profit per 10 lot. Bought TLRY Sep 7.5P for a debit of $1.01.

I am closing this defined risk bullish trade in Amazon. AMZN’s share price rose on a positive earnings release enabling the closure of this position for a $2,280 profit per 10 lot. Bought AMZN Aug 28 -2900P+2890P for a debit of $2.77.

I am closing the Notes Over Bonds spread. The spread reverted resulting in a quick profit. Bought /ZB Sep 179′ 20 and sold 2 x /ZN Sep 139′ 10.

I am taking off the corn strangle after two weeks for a profit of $200 per contract. The price of corn hung out at the lower boundary of this strangle for most of the trade, but enough time passed and volatility dropped a tad to make it a winner. Bought…

I am closing the EURN puts to lock in about half of the credit collected by selling and rolling these puts during the past couple of months. I am still bullish on tankers and have plenty of exposure remaining. Since the volatility of tanker options has been dropping, it makes…

Silver had a decent rise in price so I am buying back the silver put. I still like silver and would consider selling a put again with a rise in volatility and/or drop in the price of silver. Bought /SI Aug 18.65P for a 0.672 debit.

The rising price of crude made this trade a loser from the start. I am pleased to be able to scratch it. Commodity prices have been rising as the value of the US dollar has been dropping. Being able to break even when the price of crude shot up above…

Wheat prices jumped almost immediately so I am taking profits of $300 per contract in one day. Bought /ZW Aug 490P for a 7.875 debit.

A small rebound in the price of natural gas is providing an opportunity to take a quick profit of $200 per contract. My rule of thumb is to take the trade off if it shows a quick and reasonable profit. Bought /NG Jul 1.5 P for a debit of 0.086.

The iron condor in silver closed out for a loss of $575 per contract. Iron condors are defined risk trades. Their advantages include knowing the maximum possible loss at order entry and requiring less buying power reduction than undefined risk trades. Many traders like those attributes, but there are drawbacks.…

There was a significant rally and the NOB spread narrowed leading to a $312 profit per spread in one day. There were opportunities to take the trade off at better prices, but I was a little early. Bought /ZB Sep 177′ 00 and sold 2 x /ZN Sep 138′ 215…