Current Options Positions

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  I'm sorry that I've not posted in awhile.  My trading has been transitioning from a directional trader to more of a position options trader.  I'm finding that I'm more consistent trading options vs. equity trading.  Here are my current position trading only the SPY.  My goal of late is to have an Iron Condor on every week with the goal of making money on both sides of the market.  Hard but not impossible using options defending techniques such as the back ratio and monitoring your Deltas.  My goal is to have lots of Theta decay (Time Decay) working in my favor, but when you back ratio a position you give up some Theta.

Click on Image to enlarge


Last week I was able to take profits both on my Dec. 4th and December 11th Put Credit Spreads which were 50-75% of their profit potential.  I was able to roll up my Dec. 4th PCS to a new higher strike of 204.5/203.5 for .18 cents which is a 1% ROI on the amount invested per day until expiration.  Below is a photo of my current orders pending for the day which will only trigger if we get a swing in this slow moving market today.  The orders are for a PCS expiring DEC 18th, and another one for December 11th, which would complete the PUT sides to my Iron condors for these weeks.  I also throughout an order for a 216/215 CCS expiring Dec. 24th attempting to get .33 cents for the month...

Other orders
Other orders

Finally, here is a screenshot of the 60 minute Chart of the SPY with a few targets.  $212.30 is the ultimate long target for the SPY by the year's end.  We also have a shorter target of 211.18 but the SPY must clear this current area of Resistance at the 210.00 area.  Major support is at the 208.25 which has to hold for this current 60 minute uptrend to continue...

60 minute 1
60 minute

     Click on chart to enlarge

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