Alert: Adjust SPX Dragonfly

Ticker: SPX
Price: $4276
Date: 6/6/23 12:45 PM

Underlying: S&P 500 Index Fund

Est. Net Debit/Credit: $2010 debit

Master Portfolio Contracts: 3

NOTE:  Add adjustment to existing SPX Dragonfly!

With the market a little more back to normal we will start adjusting the Dragonfly to improve returns. During the market volatility we found it better to just get in and out of the trade quickly. But by adjusting the trades we typically double the returns on the trade. Let’s take advantage of that and boost returns.

Master account is trading 6 contracts on the butterfly but the adjustment only requires 3 contacts due to our ratios and will cost about $2050.


Trade Detail:
BTO +3 20 JUN 4225 call
STO -3 16 JUN 4230 call
Debit 6.60 – 6.80


+6x SPX 16 JUN 4200 put
-12x SPX 16 JUN 4170 put
+6x SPX 16 JUN 4100 put
+3 SPX 20 JUN 4225 call
-3 SPX 16 JUN 4230 call