Daily Review · QQQ P618/P613 · 2026-05-15

Day 0 since entry · 24 DTE remaining · tastytrade 5WI57986  ·  Generated: 2026-04-21
HOLD
Within bounds — theta is working.

Position Snapshot

QQQ Spot
$646.90
Entry: $647.36 (-0.07%)
Spread Mid
$0.77
Entry: $0.72
Unrealized P&L
$-5.00
Per contract × 1
DTE
24
Entry was 24 DTE

Net Greeks (Position-Level)

Net Delta
+0.0289
$2.89 per $1 QQQ move
Net Theta
+$1.21/day
Time working for us
Net Vega
$-3.98
Per 1% IV change (short vol)
Short Leg Delta
-0.22
Entry: -0.21 · in band

Distance to Exit Triggers

Take Profit (50% of credit)

Target mid: $0.36 · Current mid: $0.77
114% away from trigger

Stop Loss (2× credit)

Trigger mid: $1.44 · Current mid: $0.77
87% away from trigger

Time Stop (21 DTE)

Review date: 2026-04-24 · Days until review: 3
not yet

Leg Detail

LegStrikeBidAskMidΔΘVegaIV
SHORT 618P $5.37 $5.41 $5.39 -0.218 -0.242 48.92 25.2%
LONG 613P $4.60 $4.64 $4.62 -0.190 -0.230 44.94 25.9%
Cost to close now: mid = $0.77 · nat (worst) = $0.81
Charts will populate once we have 2+ daily snapshots. This is day 1 of the position.

Playbook Decision Matrix

ConditionActionCurrently Triggered?
Spread mid ≤ 50% credit ($0.36) Close for profit no
Spread mid ≥ 2× credit ($1.44) Close for loss no
At or past 21 DTE Evaluate: close/roll/hold no
Short strike delta > 0.35 Short strike threatened — watch SL no
QQQ down > 50% of way to short strike Gamma rising — monitor closely no
Earnings announced before expiry Close immediately n/a (ETF)