Trade Update - IWM Delta Adjustment
Hi Steemians,
the market doesn't care about trade wars.
Since IWM keeps rallying my deltas became too short.
So I had to roll up my short 165 put to the atm strike and go inverted.
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.