OPENING: EWZ JUNE 19TH 39/54 SHORT STRANGLE
Updated
... for a 1.46 credit.
Notes: Going out to the first expiry in which the at-the-money short straddle pays greater than 10% of the stock price and selling the 16's with the intent to potentially do additive delta adjustments over time.
From a portfolio-wide perspective, I have a good sprinkling of longer-dated core exchange-traded fund positions to start out the year: some SPY, SMH, XBI, and XOP, around which I'll play single name from time to time, as well as my standard short volatility stuff in VIX, VXX, and UVXY.
Notes: Going out to the first expiry in which the at-the-money short straddle pays greater than 10% of the stock price and selling the 16's with the intent to potentially do additive delta adjustments over time.
From a portfolio-wide perspective, I have a good sprinkling of longer-dated core exchange-traded fund positions to start out the year: some SPY, SMH, XBI, and XOP, around which I'll play single name from time to time, as well as my standard short volatility stuff in VIX, VXX, and UVXY.
Trade active
Selling the June 35/52 10 delta P/16 delta C short strangle to delta under hedge for a .95 credit. Delta/theta 4.67/2.27; position value of 2.32 versus 2.41 scratch.Trade closed manually
Closing here for 1.98, a .43 ($43)/contract winner.Disclaimer
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