AAPL Credit Spread for June 21st 185/187.5 Call

Trying to recover some of my loss on AAPL Iron Condor. I was trying to go delta neutral on AAPL, well it was delta neutral yesterday but today my overall AAPL is negative delta. That means if AAPL rises, I lose money.

This is what my profit loss graph looks like. As long as AAP stays below 185, I minimize my loss. Or if it rallies and goes above 200 but stays below 205, I make money. But I lose if it ends up between 185 and 195.

Options Trading

I have been trading options for a bit but starting to keep journal of my trades here. I have lost some serious money in it but also made some money, overall I am breakeven at this point. Based on my previous experience, I will avoid making big risky trades in options and keep my risk to $500 or less while I still learn this.

My current portfolio:

June 21 Expirations

SymbolStrategyStrike PricesCostMargin Notes
AAPLIron Condor195/200/205/210370 Credit$500Sold before trade war started. Now it is looking a loser trade.
CARAIron Condor10/12.5/22.5/25$828 Credit$1750Strike prices are way out of 1 standard deviation. Pretty good ratio of reward to risk.
LULUIron Condor150/160/190/200$361 Credit$1000Earnings are coming up. Could spike up or down after earnings. Though strike prices are around 1 standard deviations when I bought it, I lost big on INTU. Need to stop doing earning plays.
ORCLIron Condor48/52/55/59$361 credit$1200No earnings, 1 std. deviations away strike price when I bought it but $52 put is ITM. Probably should close this position if it keeps dropping
ORCLIron Condor47/51/56/60$383 credit$1200Bought this to try laddering but now I don’t like it. Too concentrated in one position. If Oracle keeps falling, I will lose $2400 instead of $1200.
SBUXIron Condor72.5/75/80/82.5$440$1250No earnings, 1 std. deviations away strike price. Looks like it is behaving as expected.
SNAPCall Credit Spread12.5/13This was a mistake. Bought $13 call but it kept falling, I could have closed position but selling an opening $12.5 call earned me more credit. It is overall loser trade, will try to close it as soon as possible.

June 28th Expirations

SPY Long Call at $295 expiration. When market was rising, I would buy calls and sell them at 20-30% profits. It was easy money. And whenever there was a dip, I would double my position and still come out ahead. Here I did same thing but market has not bounced back and unlikely to. I would lose almost $2000 here.

July 19th Expirations

SymbolStrategyStrike PricesCostMarginNotes
CATDebit PUT Spread110/120$275Trade war and down trending market.
QQQCredit Call Spread186/187$119$4001 std deviation, trade war. Buying ETF reduced risk of huge spikes.

I have been watching TastyTrade and OptionAlpha videos. A lot of useful information.

Options profit calculator

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Source: Options profit calculator