Trade Rationale: Close 28 Oct

We were about to reach the profit target and I decided to close the trade and cash-in some profits. We were about to reach the profit target but I decided to close it and enter a new trade tomorrow or so.

Position status:

The trade was closed in nice profits.

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Trade Rationale: Adjust 25 Oct

The SPY moved up and the Delta of this trade became too negative - Delta/Theta ratio slightly above 1. Hence, I decided to open a short Put Vertical to have the trade a bit more Delta neutral. I used a short-term expiry to have more Delta impact.

Position status:

The trade is in profit.

Profit target:

Let's continue to assume a profit target of 600$ or 10%.

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Trade Rationale: Adjust 15 Oct

The SPY continued to move up and touched the upper Calendar strike. Therefore, it is better to implement the Calendar swap (closing the lower strike and opening a new Call Calendar at an upper strike at 30 Delta). I also removed the Short Put Vertical that was producing positive Delta and captured some profits. Additionally, I adjusted the trade structure and Delta with additional Calendars at the former middle (now lower strike).

Position status:

The trade increased profits.

Profit target:

Let's continue to assume a profit target of 600$ or 10%.


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(continue)