Rolling (Margin): BITO Sept 12C/17P to Oct 11C/16P
... for a .63 credit.
Comments: Rolling out with 28 days to go, but adjusting strikes slightly to delta neutral, since there wasn't a ton of difference in credit between rolling out "as is" versus delta balancing. Total credits collected of 5.01 on a 5 wide inverted. The setup is currently marking at 6.46 relative to my cost basis of 5.01, so it's underwater by 1.45 ($145). Moreover, the max the setup can make is 5.01 minus the width of the inversion (5.00) (i.e., $1), so I'm just looking to cut that loss a smidge before calling it a day if I can, with price ideally staying between the short option strikes throughout the life of the setup.
Resulting delta/theta of -8.42/2.18.
Comments: Rolling out with 28 days to go, but adjusting strikes slightly to delta neutral, since there wasn't a ton of difference in credit between rolling out "as is" versus delta balancing. Total credits collected of 5.01 on a 5 wide inverted. The setup is currently marking at 6.46 relative to my cost basis of 5.01, so it's underwater by 1.45 ($145). Moreover, the max the setup can make is 5.01 minus the width of the inversion (5.00) (i.e., $1), so I'm just looking to cut that loss a smidge before calling it a day if I can, with price ideally staying between the short option strikes throughout the life of the setup.
Resulting delta/theta of -8.42/2.18.
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