Symbols traded: QQQ SPY

I entered short Iron Fly positions on QQQ and SPY, one day prior to expiration, and exited a day later, each for a profit..

QQQ short Iron Fly

LOT:	`12	ENTRY DATE:	12/26/2023
		EXIT DATE:	12/27/2023
		DAYS HELD:	1

Entry and Exit

METRIC	CREDIT	DEBIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Options premium	$ 1.90	$ 1.86	$ 0.04	2.2%	781%
METRIC	ENTRY	EXIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Stock price	$ 410.38	$ 411.30	$ (0.92)	0.22%	82%
Impllied Volatility Rate	13.1	8.3	-4.8
Days to expiration	1	0

The structure of the position

STRUCTURE	STRIKE	ODDS EXPIRE OTM	DELTA	IN PRICE	OUT PRICE	NET PRICE
Calls
Long	413.00	82.0%	18	$ (0.29)	$ 0.29	$ –
Break-even	411.90	63.5%	36
Short	410.00	45.0%	54	$ 1.45	$ (1.83)	$ (0.38)
Puts
Short	410.00	56.0%	46	$ 1.03	$ (0.36)	$ 0.67
Break-even	408.90	70.0%	31.5
Long	407.00	84.0%	17	$ (0.29)	$ 0.04	$ (0.25)
						======
				`	NET TOTAL:	$ 0.04

Risk and Reward

Per contract:
Reward	190.00
Risk	110.00
R/R Ratio (n:1)	0.6

---

SPY short Iron Fly

LOT:	22	ENTRY DATE:	12/26/2023
		EXIT DATE:	12/27/2023
		DAYS HELD:	1

Entry and Exit

METRIC	CREDIT	DEBIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Options premium	$ 1.78	$ 1.48	$ 0.30	20.3%	7358%
METRIC	ENTRY	EXIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Stock price	$ 475.20	$ 475.50	$ (0.30)	0.06%	23%
Impllied Volatility Rate	10.0	9.5	-0.5
Days to expiration	1	0

The structure of the position

STRUCTURE	STRIKE	ODDS EXPIRE OTM	DELTA	IN PRICE	OUT PRICE	NET PRICE
Calls
Long	478.00	85.0%	15	$ (0.19)	$ 0.08	$ (0.11)
Break-even	476.78	65.5%	34.5
Short	475.00	46.0%	54	$ 1.27	$ (0.53)	$ 0.74
Puts
Short	475.00	55.0%	46	$ 0.97	$ (1.08)	$ (0.11)
Break-even	473.78	70.0%	30.5
Long	472.00	85.0%	15	$ (0.26)	$ 0.05	$ (0.21)
						======
				`	NET TOTAL:	$ 0.31

Risk and Reward

Per contract:
Reward	178.00
Risk	122.00
R/R Ratio (n:1)	0.7

By Tim Bovee, Portland, Oregon, December 26-27, 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.

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Based on a work at www.timbovee.com.