NaughtyPines

ROLLING: NDX/IUXX AUG 5TH 4350/4375 SPV TO 4400/4425

NASDAQ:NDX   Nasdaq 100 Index
Rolling up the put side yet again (I've basically rolled the thing into an "iron butterfly" (filled for a .90 credit ($90)) to defend the call side.

I generally don't like to "invert" condors (here, roll the put side beyond the call side), so I'll probably just leave the setup alone running into expiry, but keep an eye on the setup's net delta and make a decision as to whether I want to erect a separate delta hedge (in this case, most likely another short put vertical set up in a separate expiration) to protect the position from further upside and/or mitigate call side loss.

Otherwise, I'll just do my usual close out the worthless side, roll out the tested side for minimal strike improvement, and sell a put side against for a credit that exceeds the price to roll the tested side.
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