November Options expired on 20 November with all Options expiring Out-Of-The-Money (OTM) allowing me to keep the net credits received. However, with SPY closing above the $360 resistance level 3 days in a row last week I chose to buy back the 355/360 Call spread expiring in December for 3.50 ($350 for the one contract). On Monday I also sold the 335/340 (Puts) 385/390 (Calls) Iron Condor expiring in January for a credit of $126 to partially cover the cost of the buy back.
My current position therefore now looks like this:
with a downside hedge still in place at ~zero cost.
Here’s what the account looks like:
with $289 “in-the-bank” against an unrealized loss of $168.
Current holdings in spreadsheet format look like this:
I plan to sell more premium in January Options as price moves around.
Update: 14 January 2021:
My January selling was in short-term weekly Options that required numerous adjustments (i.e. trading positions rather than “investment” positions) so are not appropriate for this site. The final position looks like this:
i.e. a small $171 loss on a bearish hedge position with the underlying moving up ~11%. In practice I end up with ~$500 profit from the January short-term trades.