#Tesla@quikoptionsguru Anticipating range breakout... If it breaks down instead, enough room to the short put. Adjust strikes so spread is put for a minor credit
GBP... Looks heavy on the daily... wanting to go for a probe for 1.315. Offering that last swing low, naked on the H1, confluence with ATR, for a good R:R proposition
GLD. After parabolic run, bet is for correction/consolidation.
Buy an OTM put, and fund it by selling two farther OTM puts, to profit from put skew which as made the wings expensive:
Hi @optioncharts_io Any plans to add:
1) Time lines on P&L expiration diagrams; T0, T+10d, T+20d, etc.
2) Option to lock in a spread and simulate spread and leg value changes for changes in underlying, IV, time?
Hi @optioncharts_io . Any plans to add:
1) Vol skew vs delta, not strike
2) Vol skew at different times (I don't mean for diff expirations, but same expiration but at different times; today, vs 1 week ago, vs 1 month ago)?
The idea is, if the market corrects/crashes, the long put protects us. If the market resumes rally, we're long the portfolio so the short call doesn't hurt us. If SPY breaks up through the call strike (680), this would be a stop loss for the spread.
Depending on portfolio size is the number of options needed for [partial] protection.
The call strike is chosen arbitrarily (discretion). I think 680 will cap the market short term. The put strike is chosen so the call pays for it, ie neutral or a for net credit.