... for a 34.04 debit.
Comments: Adding at strikes better than what I currently have on, selling the -84 delta call against shares to emulate the delta metrics of a 16 delta short put, but with the built-in defense of the short call. Going lower net delta here as a personal choice, since I've already made goal for February, so don't see the need to take on my normal amount of risk.
Metrics:
Buying Power Effect/Break Even: 34.04/share
Max Profit: .96
ROC at Max: 2.82%
50% Max: .48
ROC at 50% Max: 1.41%
Will generally look to take profit at 50% max, add to the position at intervals if I can get in at strikes/break evens better than what I currently have on, and/or roll out my short call on approaching worthless if my take profit hasn't hit.
Comments: Adding at strikes better than what I currently have on, selling the -84 delta call against shares to emulate the delta metrics of a 16 delta short put, but with the built-in defense of the short call. Going lower net delta here as a personal choice, since I've already made goal for February, so don't see the need to take on my normal amount of risk.
Metrics:
Buying Power Effect/Break Even: 34.04/share
Max Profit: .96
ROC at Max: 2.82%
50% Max: .48
ROC at 50% Max: 1.41%
Will generally look to take profit at 50% max, add to the position at intervals if I can get in at strikes/break evens better than what I currently have on, and/or roll out my short call on approaching worthless if my take profit hasn't hit.
Note
Housekeeping roll out to the monthly ... . Rolling the March 28th 35 down to the April 17th 34 for 1.25 credit; 32.78 break even; max now 1.22, ROC at max, 3.72%.Note
Unfortunately, there is no May or June expiries available, so rollng the April 17th 34 down and out to the July 18th 32 for a 2.75 credit. 30.03 break even. The basic goal here is to keep extrinsic value in the position at a value greater than the drawdown being experienced by it.
Note
Reducing long delta ... . Rolling the -32C down to the -31C for a .41 credit; 29.62 break even.Trade closed manually
Posting the rest of my Friday losers: closed for a 20.13 credit; 9.49 loser.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.