Trade Update - IWM Delta Adjustment

in #options6 years ago

Hi Steemians,

the market doesn't care about trade wars.
Since IWM keeps rallying my deltas became too short.
IWM 0.jpeg

source: tastyworks

So I had to roll up my short 165 put to the atm strike and go inverted.
IWM 1.jpeg
source: tastyworks

IWM 2.jpeg
source: tastyworks

This position started out as a July 157/165 short strangle for which I collected $3.56.
When my 165 short call got breached I rolled up the short put an created a straddle.
My overall credit on this position is now $6.86.
My original profit target of 50% of $3.56 = $1.78 didn't change.
So I'm going to close this position when it trades for $5.08.
As long as the price stays between my short strikes I will be fine.

God luck trading,
Stephan Haller

Legal disclaimer: These are not trade recommendations. Options involve risk and are not suitable for all investors. The trades shown above are for educational purpose only.

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