Hey folks. I took a stab at creating a journal and management sheet for trading SPX and /ES strangles according to Tasty Trade’s rules and research findings.

https://docs.google.com/spreadsheets/d/1SwFlW7IG_MMyXwhAKcH_g2lFKdczwn4SJmPhErq5vMw/edit?usp=sharing

What I built works for me, though it might need some explanation and modification to work for you.. Anyway, it’s a Google Spreadsheet that you can duplicate then use or modify. Please don’t edit the master document unless you find a formula error…that way other people can copy or modify it for their purposes. It’s meant to help you track all of the various scenarios for managing strangles, from the initial trade at 45 DTE, to rolling untesedt puts/calls, to inverting legs, to “Managing Early” by rolling out either as a traditional or inverted strangle.

I built the journal to help keep track of the net income generated, but I don’t track commissions. It’s really helped me adjust profit targets after managing legs. I found it hard to know when to exit a position once the legs were inverted, then rolled out to another month. I was holding an inverted position too long and not exiting once the profit target of the original strangle (50%) was reached before making this tracking sheet. It’s helped my peforance and I hope it can help you guys. I’d also appreciate any attempts at making it better. I’m certainly glad to walk thorugh it with anyone interested. I have an anymeeting account and am glad to roll through it with anyone interested.

Mike