Category Archives: Short Strangle

Short Strangle – Gold Futures


SELL -5 STRANGLE /GCG5 1/100 JAN 15 /OGF5 1360/1040 CALL/PUT @4.40 LMT Credit – max profit (including commissions) = $2.162 Days to expiration = 37 Initial margin = $3,441 ROC (max profit) =~ 63% Look to take off trade at approximately … Continue reading

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Short Strangle – 10 Year US Terasury Notes Futures


SELL -5 STRANGLE /ZNH5 1/1000 JAN 15 /OZNF5 132.5/121 CALL/PUT @0”09 LMT Credit – max profit (including commissions) = $672.43 Initial margin = $1,885 ROC =~ 35% Look to take off trade at 50% of max profit. POP =~ 90%

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Short Strangle – 30 Year US Terasury Bond Futures


SELL -3 STRANGLE /ZBZ4 1/1000 OCT 14 /OZBV4 145/129 CALL/PUT @0”12 LMT GTC Days to exp. = 59 ROC (max. profit) = 562.5/1654.13 =~ 34% The idea would be to take off the spread around 50% of max. profit.  Hence the actual … Continue reading

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Short Strangle – 30 Year US Terasury Bond Futures


SELL -4 STRANGLE /ZBU4 1/1000 SEP 14 /OZBU4 142/129 CALL/PUT @0”09 LMT Days to exp. = 47 ROC (max. profit) = 562.5/2279.00 =~ 24.7% The idea would be to take off the spread around 50% of max. profit.  Hence the actual ROC … Continue reading

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Short Strangle – Light Sweet Crude Oil Futures


SELL -3 STRANGLE /CLQ4 1/1000 AUG 14 /LOQ4 115/92 CALL/PUT @.27 Days to exp. = 51ROC (max. profit) = 810/1980 =~ 40.9% The idea would be to take off the spread around 50% of max. profit.  Hence the actual ROC would … Continue reading

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Earnings play on Netapp Inc. – Closing trade


BUY +5 STRANGLE NTAP 100 (Weeklys) MAY4 14 36/34.5 CALL/PUT @.24 LMT Opening credit = $610 (open trade link) Closing cost = $135 Profit = $475  

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Earnings play on Netapp Inc.


Earnings play on Netapp Inc … SELL -5 STRANGLE NTAP 100 (Weeklys) MAY4 14 36/34.5 CALL/PUT @1.23 LMT (short strikes around the anticipated market maker move … can use cost of ATM straddle for estimation as well) Days to exp. = 2 POP … Continue reading

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Earnings play on Autodesk Inc.


Earnings play on Autodesk Inc … SELL -3 STRANGLE ADSK 100 MAY 14 50/44 CALL/PUT @.95 LMT Days to exp. = 1 POP =~ 98.9% Max. profit = $285(exc. commissions) Buying power effect = $2,083.50 ROC = 480/991 =~ 13.6% … Continue reading

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Short Strangle – E-mini Nasdaq 100 Index Futures


SELL -1 STRANGLE /NQM4 1/20 JUN 14 /NQM4 3770/3300 CALL/PUT @28.75 LMT Days to exp. = 46 POP =~ 74.8% Max. profit = $575(exc. commissions) Buying power effect = $1,719 ROC = 480/991 =~ 33.4%

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GDXJ (Market Vectors Junior Gold Miners ETF) Short Strangle


GDXJ Implied Volatility @ upper end of range.  Looking to sell premium. Note: Price down over 16% in the last 2 weeks. SELL -5 STRANGLE GDXJ 100 MAY 14 44/30 CALL/PUT @1.05 LMT  (# of contracts to be tailored to match … Continue reading

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