Symbols traded today: SPY, QQQ, both with one day remaining until expiration.

SPY short Iron Fly

LOT:	15	ENTRY DATE:	11/27/2023
		EXIT DATE:	11/28/2023
		DAYS HELD:	1

Entry and Exit

METRIC	CREDIT	DEBIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Options premium	$ 1.35	$ 1.29	$ 0.06	4.7%	0%
METRIC	ENTRY	EXIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Stock price	$ 455.16	$ 453.92	$ 1.24	$0.00	-99%
Impllied Volatility Rate	7.8	8.8	-1.0	1.0
Days to expiration	1	0

The structure of the position

STRUCTURE	STRIKE	ODDS EXPIRE OTM	DELTA
Calls
Long	457.00	78.0%	21
Break-even	456.35	64.0%	35.5
Short	455.00	50.0%	50
Puts
Short	455.00	50.0%	50
Break-even	454.35	64.6%	35.5
Long	453.00	79.2%	21

Risk and Reward

Per contract:
Reward	135.00
Risk	65.00
R/R Ratio (n:1)	0.5

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QQQ short Iron Fly

LOT:	7	ENTRY DATE:	11/27/2023
		EXIT DATE:	11/28/2023
		DAYS HELD:	1

Entry and Exit

METRIC	CREDIT	DEBIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Options premium	$ 1.53	$ 1.41	$ 0.12	8.5%	3106%
METRIC			CHANGE	CHANGE %	ANNUALIZED CHANGE %
Stock price	$ 390.64	$ 388.75	$ 1.89	-0.48%	-177%
Impllied Volatility Rate	4.8	5.9	-1.1	1.1
Days to expiration	1	0

The structure of the position

STRUCTURE	STRIKE	ODDS EXPIRE OTM	DELTA
Calls
Long	392.00	70.0%	31
Break-even	391.53	63.0%	37.5
Short	390.00	56.0%	44
Puts
Short	390.00	56.0%	44
Break-even	389.53	67.0%	33.5
Long	388.00	78.0%	23

Risk and Reward

Per contract:
Reward	153.00
Risk	47.00
R/R Ratio (n:1)	0.3

By Tim Bovee, Portland, Oregon, November 27, 2023

Disclaimer

Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.

License

All content on Tim Bovee, Private Trader by Timothy K. Bovee is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Based on a work at www.timbovee.com.