Get started

Shortput

Opening (Margin): /MCL March 16th 55 Short Put... for a .50 credit. Comments: My position has skewed out to delta/theta >1.0, so I looked at doing a small adjustment here. My options were: (a) take off profitable short delta (there isn't any at the moment); (b) add a skewed strangle as I did before; (c) roll up a profitable short put; or (d) sell a brand new put. I was looking to pick up around +6 delta or so, so opted for (c), but had to go out to March to get paid something decent for a 6 delta strike (although .50 isn't "fabulous"). This also happened to be buying power free and actually freed up a smidge (we're talking like $15, so nothing to really "whoo-hoo" about). I've collected a total of 4.11 in credits and will look to unwind the whole shebang in profit (preferably, at 50% max).
NYMEX:MCL1!Long
by NaughtyPines