Live Trade: SPX 11 Day Butterfly
SPX 2770.59 at 12:15 central. Jun 29 Expiration. 11 Day Unbalanced Butterfly
B 1 2740 C, S 2 2770 C, B 1 2795 C 9.65 Debit. Margin/Risk $965
Beginning Greeks: Price 2770 Deltas -1.38 Theta 19 Vega -58
Profit target and Max Loss: 8 % Profit and 10% Max Loss of Margin/Risk of $965.
Will keep it simple and use no adjustments.
Mid Price now is 9.65 and not filled yet but still keeping my bid at 9.65 Debit.
Live AAPL Butterfly Trade
B 1 Jun 1 182.5 Call, S 2 Jun 1 187.5 C, B 1 Jun 1 192.5 C, 1.84 Debit. Margin and Risk $184. 11 Day Butterfly Trade. Filled at 12:09 PM CT, with AAPL at 188.
Profit Target : 20% or $35 for every 1 contract. Sell out Butterfly at $2.19 Credit. Max Loss is 20% or $35 for every 1 contract. If Butterfly price goes from 1.84 to $1.49, get out.
Why am I trying to get 20%? Because 10% Profit target for every 1 contract would be only $18, and after commissions , there wouldn’t be much less. This is a very cheap dollar trade, only an outlay ( debit) of $184 for every 1 contract.
Dan Sheridan dan@sheridanmentoring.com
Live Double Calendar in SPX
Double Calendar B 1 Jun 8 2750 C, B 1 Jun 8 2690 P, S 1 May 25 2750 C, S 1 May 25 2690 P 16.30 Debit
Profit target: Sell Spread at 17.45 credit for about 7% profit. Max Loss when Spread decreases under 14.80, loss of around 10%
Dan, covered the trade in more detail in the video below.