New XBI, SMH and GM positions

On Friday (21 DTE) I am closing or rolling out my positions. 

To anticipate on a drop in positions and my portfolio theta, I added 2 index positions:

• Selling an XBI Strangle 65P/98C, exp date 16/12, for a credit of $1.78 and $5.5 theta
• Selling an SMH strangle 165P/225C, exp date 16/12, for a credit of $4.67 and  $13 theta

Both positions are delta neutral, and add a total of $18 daily decay to the portfolio.

As a last trade for today, I allowed myself an earnings trade in General Motors (GM), the jade Lizard 32P/41C/42C, this positions gives a net credit of $1.12 and has no risk to the upside. I am looking to take it off tomorrow for 50% max profit.

Let’s see how that goes.

Cheers