Adjusting AAPL, HPQ and LYFT positions

The drop of stock prices make the option prices spike, it obviously gives a negative P/L , certainly if you positive delta, but it creates also a good opportunity to adjust positions with high credit premiums. And that is exactly what I did with three positions:

1. Adjusting my AAPL short strangle, 145P/170C, exp 21/10:

I have rolled it out to 18 Nov for an extra credit of $3.66, bringing the total at $7.91. This brings the breakevens around 138 and 178. With the down move of today, I will not roll my call down yet, because I expect a small recovery or at least to stay around 140-150 range.

2. Adjusting my HPQ short strangle position, 26P/30C, exp 21/10 :

I have rolled it out to Exp 18 Nov adjusting the call strike to a 26P/28/C for a total credit of $1.94.

3. Adjusting my LYFT short strangle position, 17,5P/20C, exp 18/11 :

With the stock down to $13.5, I have rolled the call down to a 17,5 straddle, collecting an extra $0.32 credit, bringing the total credit received at $3.40.

With these 3 adjustments, I adjusted my directional risk (lowering delta) and collecting some extra credits in a high volatility environment.

My portfolio Theta : $74