Managment of Delta in WTI

Oil is under pressure.  I decided to manage /CL delta for the expense of the collected premium. Also /ES was used to hedge the /CL position.
The resulting position and the trades are posted below.

Position Statement for D-11687156 (margin) on 12/31/15 12:39:17
using Beta Weighing on '/ES'
Instrument	Qty	Days	Strike	Breakeven	Mark	Delta	Theta	Vega
Light Sweet Crude Oil Futures,Apr-2016,ETH	2	81		45.41	39.69	45.77	0	0
1/1000 FEB 16 /LOG6 43.5 PUT	-1	14	43.5	1.23	5.92	20.71	19.99	-12.32
1/1000 APR 16 /LOJ6 43.5 CALL	-3	76	43.5	1.33	1.63	-24.2	55.37	-203.02
1/1000 FEB 16 /LOG6 24.5 PUT	5	14	24.5	0.04	0.01	-0.54	-16.02	5.24
1/1000 APR 16 /LOJ6 37.5 PUT	-1	76	37.5	2.43	2.12	7.99	19.04	-67.46
1/1000 APR 16 /LOJ6 41 PUT	-1	76	41	1.95	3.81	12.01	19.64	-72.5
1/1000 APR 16 /LOJ6 38.5 CALL	-1	76	38.5	3.17	3.73	-13.77	19.93	-70.32
1/1000 APR 16 /LOJ6 43 CALL	1	76	43	1.32	1.78	8.59	-18.88	69.12
E-mini S&P 500 Index Futures,Mar-2016,ETH	0	78		2052.25	2052.25	0	0	0
				44	44
1/50 JAN 16 (EOM) /EWF6 2015 PUT	1	29	2015			-17.02	-29.68	107.68
1/50 JAN 16 (EOM) /EWF6 2050 CALL	-1	29	2050			-25.92	28.99	-116.97
1/50 JAN 16 (EOM) /EWF6 2050 PUT	-1	29	2050			23.99	28.68	-116.97
1/50 JAN 16 (EOM) /EWF6 2140 CALL	1	29	2140			4.43	-8.43	47.19
Instrument	Delta	Theta	Vega	BP Effect
/CL	56.56	99.08	-351.25	-32860.00
/ES	-14.52	19.56	-79.08	-4411.00
Total	42.04	118.64	-430.33	-37271

Trades

Exec Time	Spread	Side	Qty	Symbol	Exp	Strike	Type	Price	Net Price
12/31/2015 12:33	IRON CONDOR	SELL	-1	/ESH6 1/50 JAN 16 (EOM)	/EWF6	2050	CALL	35.5	44.05
		BUY	1	/ESH6 1/50 JAN 16 (EOM)	/EWF6	2140	CALL	2.45	CREDIT
		SELL	-1	/ESH6 1/50 JAN 16 (EOM)	/EWF6	2050	PUT	34
		BUY	1	/ESH6 1/50 JAN 16 (EOM)	/EWF6	2015	PUT	23
12/31/2015 11:50	SINGLE	SELL	-1	/CLJ6 1/1000 APR 16	/LOJ6	43.5	CALL	1.51	1.51
12/31/2015 2:52	SINGLE	SELL	-2	/CLJ6 1/1000 APR 16	/LOJ6	43.5	CALL	1.29	1.29
12/31/2015 2:48	FUT CALENDAR	SELL	-2	/CLG6	16-Feb		FUTURE	36.7	-1.96
		BUY	2	/CLJ6	16-Apr		FUTURE	38.66	DEBIT
12/30/2015 22:32	VERTICAL	SELL	-1	/CLJ6 1/1000 APR 16	/LOJ6	41	CALL	2.05	0.63
		BUY	1	/CLJ6 1/1000 APR 16	/LOJ6	43	CALL	1.42	CREDIT
12/30/2015 22:31	SINGLE	SELL	-1	/CLJ6 1/1000 APR 16	/LOJ6	41	PUT	4.36	4.36
12/30/2015 22:31	SINGLE	BUY	1	/CLG6 1/1000 FEB 16	/LOG6	41	PUT	4.49	4.49
12/30/2015 22:10	VERTICAL	SELL	-1	/CLJ6 1/1000 APR 16	/LOJ6	38.5	CALL	3.17	1.09
		BUY	1	/CLJ6 1/1000 APR 16	/LOJ6	41	CALL	2.08	CREDIT

Position

Instrument	Qty	Days	Strike	Breakeven	Mark	BP Effect
/CL						-55764.00
Light Sweet Crude Oil Futures,Feb-2016,ETH	2	27		43.5	38.08
Light Sweet Crude Oil Futures,Apr-2016,ETH	0	88		0	39.87
1/1000 FEB 16 /LOG6 24.5 PUT	5	21	24.5	0.04	0.01
1/1000 FEB 16 /LOG6 41 PUT	-1	21	41	2.1	3.45
1/1000 FEB 16 /LOG6 43.5 PUT	-1	21	43.5	1.23	5.63
1/1000 APR 16 /LOJ6 37.5 PUT	-1	83	37.5	2.43	2.19
1/1000 FEB 16 /LOG6 43.5 CALL	-2	21	43.5	0.12	0.21

Defense

Exec Time	Qty	Pos Effect	Symbol	Exp	Strike	Type	Price
12/21/2015 10:48	-2	TO OPEN	/CLG6 1/1000 FEB 16	/LOG6	43.5	CALL	0.12
12/21/2015 10:33	1	TO CLOSE	/CLG6 1/1000 FEB 16	/LOG6	37.5	PUT	2.64
12/21/2015 10:32	-1	TO OPEN	/CLJ6 1/1000 APR 16	/LOJ6	37.5	PUT	3.08

Fourth Cycle

Third is done. How low Oil  can go.

Position summary:

Instrument	Qty	Days	Strike	Trade Price	Breakeven
/CL
Light Sweet Crude Oil Futures,Feb-2016,ETH	2	33		36.99	43.5
1/1000 FEB 16 /LOG6 24.5 PUT	5	27	24.5	0.04	0.04
1/1000 FEB 16 /LOG6 37.5 PUT	-1	27	37.5	2	2
1/1000 FEB 16 /LOG6 41 PUT	-1	27	41	4.38	2.1
1/1000 FEB 16 /LOG6 43.5 PUT	-1	27	43.5	6.4	1.23

Cash  from Finished Transactions                                            
10/15/2015                           $3,017.00  First     cycle               
11/17/2015                           $3,267.00  Second  cycle             
12/18/2015                           $3.060.00  Third     cycle              

Rolling,Early Again

12/14/2015	12:37:32	BOT +1 /CLF6 1/1000 JAN 16 /LOF6 40 PUT @3.58
12/14/2015	12:44:10	SOLD -1 /CLG6 1/1000 FEB 16 /LOG6 43.5 PUT @6.40
12/14/2015	12:44:10	BOT +1 /CLF6 1/1000 JAN 16 /LOF6 42.5 PUT @6.25
12/14/2015	12:47:08	SOLD -1 /CLG6 1/1000 FEB 16 /LOG6 41 PUT @4.38
12/14/2015	12:49:23	BOT +1 /CLF6 1/1000 JAN 16 /LOF6 45 PUT @8.72
12/14/2015	12:55:51	BOT +1 /CLG6 @37.88
12/14/2015	12:58:18	SOLD -1 /CLG6 1/1000 FEB 16 /LOG6 46.5 CALL @.27
12/14/2015	13:01:01	BOT +5 /CLG6 1/1000 FEB 16 /LOG6 24.5 PUT @.04

Early into Fourth Cycle

WTI is under pressure . 9 days till the end of third cycle. At the moment paper losses are around $25000.  Anyway I take this as an opportunity to sell another  put but into the next cycle :
  
FEB 16 STRIKE 37.5 -1 PUT@2.00