Trading Journal – July 21, 2020 $LOGI $JNJ $T $SNAP $TXN /SM75 /SPREN20

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Trades We Managed Today

IBM-  Aug short strangle -115p/-135c + a purchased 140 long call for insurance to the upside, collecting 2.13. The trade has decreased to 1.79 in value. It’s moving in the right direction, but still not low enough to buy to close. LOGI Aug earnings trade – short strangle -60p/-80c for 1.78 credit. Closed today for .84 profit. Probably could have kept this one on for a couple more days to get to 50% however I felt I was starting to have too many trades on so some needed to be closed. In my bite-sized tastyworks account I needed some buying power back, so I closed my naked T call and instead opened up a short /SM75Q20 (Small 75 Futures Product) to help reduce my SPY beta weighted delta from high 27s to 12. I also closed out my JNJ iron condor for a credit. SM75 SmallExchange

Trades We Opened Today

For my new trades, I opened up a short strangle (20p/30c) in SNAP, and a short iron condor in TXN (120/125/150/155) snap txn I continue to sit by the sidelines for Gold, Silver, and the Aussie Dollar. They are all rallying as the US Dollar goes down in value. I’m hoping it’s not too late to play something there. Might enter a long /SPREN20 (Precious Metals Small Exchange) product.

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