Trade Update - XLE Delta Adjustment

Hi Steemians,

the 77 short call of my July 71/77 short strangle got hit today, so I had to roll up the untested side in order to neutralize my deltas.

source: tastyworks
I collected $1.57 in net credit for this roll.
What started out as a short strangle is now a July 77 short straddle.

source: tastyworks
As you can see, my overall credit for this straddle is now $3.65.
At the moment the position is down 20 cents ($20 per one lot).
Since this is a defensive measure, my initial profit target hasn't change.
It is still 50% of the initial credit ($2.08/2 = $1.04), so I'm going to close this short straddle, when it trades for $2.61.

Good 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.