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

Day 1 since entry · 23 DTE remaining · tastytrade 5WI57986  ·  Generated: 2026-04-22 · Greeks via Black-Scholes on tastytrade quotes
HOLD
Within bounds — theta is working.

Position Snapshot

QQQ Spot
$652.75
Entry: $647.36 (+0.83%)
Spread Mid
$0.63
Entry: $0.72
Unrealized P&L
+$9.50
Per contract × 1
DTE
23
Entry was 24 DTE

Net Greeks (Position-Level)

Net Delta
+0.0245
$2.45 per $1 QQQ move
Net Theta
+$1.34/day
Time working for us
Net Vega
$-3.83
Per 1% IV change
Short Leg Delta
-0.18
Entry: -0.21 · in band

Distance to Exit Triggers

Take Profit (50% of credit)

Target mid: $0.36 · Current mid: $0.63
74% away from trigger

Stop Loss (2× credit)

Trigger mid: $1.44 · Current mid: $0.63
130% away from trigger

Time Stop (21 DTE)

Review date: 2026-04-24 · Days until review: 2
not yet

Leg Detail

LegStrikeBidAskMidΔΘ/dayVegaIV
SHORT 618P $4.37 $4.41 $4.39 -0.182 -23.16 43.31 26.2%
LONG 613P $3.75 $3.78 $3.76 -0.158 -21.82 39.48 27.0%
Cost to close now: mid = $0.63 · nat (worst) = $0.66

Evolution Since Entry

Spread Mid & P&L

QQQ Spot

Net Delta

Net Theta ($/day)

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 no
QQQ down > 50% of way to short strike Gamma rising — monitor no