Symbols traded today: SPY, QQQ and AAPL

I entered new positions, one day before expiration, into SPY and QQQ, which have options expiring every day, and into AAPL, whose options expire once a week on Fridays.

SPY short Iron Fly

LOT:	16	ENTRY DATE:	11/30/2023
		EXIT DATE:	12/1/2023
		DAYS HELD:	1

Entry and Exit

METRIC	CREDIT	DEBIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Options premium	$ 2.06	$ 2.00	$ 0.06	3.0%	0%
METRIC	ENTRY	EXIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Stock price	$ 453.60	$ 455.48	$ (1.88)	$0.00	151%
Impllied Volatility Rate	12.4	9.7	2.7	-2.7
Days to expiration	1	0

The structure of the position

STRUCTURE	STRIKE	ODDS EXPIRE OTM	DELTA
Calls
Long	457.00	81.0%	19
Break-even	456.06	67.0%	33
Short	454.00	53.0%	47
Puts
Short	454.00	46.0%	52
Break-even	453.06	61.0%	37.5
Long	451.00	76.0%	23

Risk and Reward

Per contract:
Reward	206.00
Risk	94.00
R/R Ratio (n:1)	0.5

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QQQ short Iron Fly

LOT:	8	ENTRY DATE:	11/30/2023
		EXIT DATE:	12/1/2023
		DAYS HELD:	1

Entry and Exit

METRIC	CREDIT	DEBIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Options premium	$ 2.32	$ 2.11	$ 0.21	10.0%	0%
METRIC	ENTRY	EXIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Stock price	$ 386.36	$ 387.32	$ (0.96)	$0.00	91%
Impllied Volatility Rate	9.4	9.3	0.1	-0.1
Days to expiration	1	0

The structure of the position

STRUCTURE	STRIKE	ODDS EXPIRE OTM	DELTA
Calls
Long	390.00	73.0%	27
Break-even	388.32	59.5%	40.5
Short	386.00	46.0%	54
Puts
Short	386.00	46.0%	55
Break-even	384.82	66.0%	34.5
Long	382.50	86.0%	14

Risk and Reward

Per contract:
Reward	232.00
Risk	143.00
R/R Ratio (n:1)	0.6

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AAPL short Iron Fly

LOT:	1	ENTRY DATE:	11/30/2023
		EXIT DATE:	12/1/2023
		DAYS HELD:	1

Entry and Exit

METRIC	CREDIT	DEBIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Options premium	$ 4.09	$ 4.40	$ (0.31)	-7.0%	0%
METRIC	ENTRY	EXIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Stock price	$ 188.31	$ 190.88	$ (2.57)	$0.01	498%
Impllied Volatility Rate	3.8	3.4	0.4	-0.4
Days to expiration	1	0

The structure of the position

STRUCTURE	STRIKE	ODDS EXPIRE OTM	DELTA
Calls
Long	195.00	84.0%	15
Break-even	191.59	64.0%	35
Short	187.50	44.0%	55
Puts
Short	187.50	57.0%	44
Break-even	186.59	69.0%	32
Long	182.50	81.0%	20

Risk and Reward

Per contract:
Reward	409.00
Risk	216.00
R/R Ratio (n:1)	0.5

By Tim Bovee, Portland, Oregon, November 30, 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.