OPENING: XOP 2 X DEC 21ST 35.5/39.5 SHORT CALL VERTICAL
... for a .40/contract credit.
Notes: This will finish my clean up of my XOP December cycle core position. (See Post Below for all the shenanigans). I've now got "unit balance" (same on put side as on call side), as well as a smaller number of units in total.
My scratch point in the position for the December cycle is 5.15/contract, and the net delta of the position remains long running into opex. I'm profitable for the cycle in the underlying, but would like to milk out a little more, particularly since we may get some OPEC jawboning running in their December meeting (i.e., up), which will naturally benefit what remains of the position.
Notes: This will finish my clean up of my XOP December cycle core position. (See Post Below for all the shenanigans). I've now got "unit balance" (same on put side as on call side), as well as a smaller number of units in total.
My scratch point in the position for the December cycle is 5.15/contract, and the net delta of the position remains long running into opex. I'm profitable for the cycle in the underlying, but would like to milk out a little more, particularly since we may get some OPEC jawboning running in their December meeting (i.e., up), which will naturally benefit what remains of the position.
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