Daily Review · IWM P260/P255 · 2026-05-22

Day 0 since entry · 30 DTE remaining · tastytrade 5WI57986  ·  Generated: 2026-04-22 · Greeks via Black-Scholes on tastytrade quotes
HOLD
Within bounds — theta is working.

Position Snapshot

IWM Spot
$276.06
Entry: $276.58 (-0.19%)
Spread Mid
$0.71
Entry: $0.70
Unrealized P&L
$-1.00
Per contract × 1
DTE
30
Entry was 30 DTE

Net Greeks (Position-Level)

Net Delta
+0.0514
$5.14 per $1 IWM move
Net Theta
+$1.19/day
Time working for us
Net Vega
$-3.83
Per 1% IV change
Short Leg Delta
-0.20
Entry: -0.20 · in band

Distance to Exit Triggers

Take Profit (50% of credit)

Target mid: $0.35 · Current mid: $0.71
103% away from trigger

Stop Loss (2× credit)

Trigger mid: $1.40 · Current mid: $0.71
97% away from trigger

Time Stop (21 DTE)

Review date: 2026-05-01 · Days until review: 9
not yet

Leg Detail

LegStrikeBidAskMidΔΘ/dayVegaIV
SHORT 260P $2.49 $2.55 $2.52 -0.199 -9.45 22.11 27.6%
LONG 255P $1.79 $1.83 $1.81 -0.148 -8.27 18.28 28.9%
Cost to close now: mid = $0.71 · nat (worst) = $0.76
Charts will populate once we have 2+ daily snapshots.

Playbook Decision Matrix

ConditionActionCurrently Triggered?
Spread mid ≤ 50% credit ($0.35) Close for profit no
Spread mid ≥ 2× credit ($1.40) Close for loss no
At or past 21 DTE Evaluate: close/roll/hold no
Short strike delta > 0.35 Short strike threatened no
IWM down > 50% of way to short strike Gamma rising — monitor no