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2019 Trades

KRE: 08.29.19 – 10.01.19

ETF | Banking Fund | Status: Closed

Adjustment #1

View original trade
09.12.19
KRE has rallied over $4 since I put this trade on. If my calculations are correct, that's nearly 1.5x the
I'm SO glad I went as wide as I did with this
because it appears it still wasn't enough. Today, my
was breached so the
decision was to
the
It's difficult not to be wary of a
after such an unstoppable rally, so pulling the trigger on this adjustment was not easy. Still, there's no telling if KRE will continue to go higher or back track, so the best thing to do is stay mechanical. That said, I kept my put as far
as possible while still collecting enough
to be worthwhile. Hopefully KRE comes back down, but not too fast. There's about $1.52 of
in this trade, so as long as we don't move too much higher, I stand to make all of that back through
and
contraction.

Risk Profile:

(Not to scale)
Figure 2

Strategy: Roll Up Put

btc 1 oct 18 45 put
sto 1 oct 18 50 put
Fill Price: $0.39 credit

Position Analysis

U/L Price: $54.07
IV: 25.2%
IVR: 36.1
Liquidity: 4/4
Position: Short OCT 50/53 Strangle
POP: 45%
Cost Basis: $1.45
Risk: Undefined
BPR: $1200
Max Profit: $1.45
Max Loss: Unlimited
Target P/L: $0.53
Break Even(s): $48.55, $54.45
Extrinsic Value: $152.00
Net Delta: -44.42
Net Theta: 3.691

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2019 Trades
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