Increase in IV here, due to the oil sell off. Sold -1 Aug17 41/46 strangle for $1.38 cr.
2x cr received stop loss here or 50% Win are my targets.
2x cr received stop loss here or 50% Win are my targets.
Trade attivo:
Rolling this trade out to Sep21 for add'l $.90 cr. I also moved up to the $47, rather tha $46.
I was able to peel off the first strangle for $40 winner.
I was able to peel off the first strangle for $40 winner.
Commento:
New payoff diagram.
Trade chiuso manualmente:
Closing this trade as XOP's IVR has dropped to 3%. It also had 53 more days to go to earn 10-20%, which just isn't worth the risk.
Closed for $1.30 db. Overall, I was able to claw out around $98 on this trade in 20 days.
Closed for $1.30 db. Overall, I was able to claw out around $98 on this trade in 20 days.