OPENING: XME JUNE 19TH 24/30 SHORT STRANGLE

... for a .94 credit.

Notes: Selling a delta neutral short strangle in the first expiry in which the at-the-money short straddle is paying greater than 10% of the underlying. Given the smallness of the instrument, will do additive adjustments if necessary to delta under hedge.

Trade attivo:

Selling the 21/29 short strangle for a .70 credit to delta under hedge. Delta/theta 13,74/1.48; setup value of 1.96 versus 1.64 scratch.

Trade chiuso manualmente:

Closing this for 1.52, a Happy Meal winner. Less liquid than I would've liked ... .