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Shortstrangle

Opening (Margin): /MCL February 15th 64/94 Short Strangle... for a 1.61 credit. Comments: Doing a slightly short delta-skewed additive adjustment here in my mini-slippery stuff position, with the short call at the -13 delta strike and the short put at the 11 delta strike, for a net of -2 delta. This gives me a smidge of short delta to bring back the net delta of the entire position more to neutral. The other option was to have just rolled down the call side a smidge to delta balance if I wasn't comfortable with adding units here. I can now do one of two things: (a) take the entire four-leg position off in profit; or (b) mix and match in-profit call with in-profit put to peel off units. Total credits collected of 1.90 (See Post Below) plus the 1.61 here: 3.51 total.
NYMEX:MCL1!
by NaughtyPines
Rolling (Margin): XOP Dec 16th 127C/147P to Jan 20th 130C/147P... for a 3.67 credit. Comments: Rolling for a realized gain with this down move. There was no 127 strike, so rolled the short call to the 130 and the short put "as is." Total credits collected of 28.47 on a 17 wide inverted. Resulting delta/theta -38.14/15.30 with 13.43 of extrinsic, so I'm indicating here that it's a "short" position. Still looking at this for tax loss harvest, but wanted to give it an additional chance running into year's end to make something of itself.
AMEX:XOPShort
by NaughtyPines