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2019 Trades

XOP: 08.01.19 – 09.09.19

ETF | Oil and gas | Status: Closed

Adjustment #1

View original trade
08.06.19
I had very poor timing with this trade. It seems like ten minutes after I sold the original
the market tanked. Oh well, that's how it goes sometimes... I was desperate for new trades at the time so I can't really blame myself for trying. Let me just add to the bitterness by
a
into a down move. I really did not like doing this, but it is the
decision because my
has been breached. I sold about as far
as possible so hopefully I won't get whipsawed to the upside. Unfortunately, I was not able to collect much
for this call but it does reduce my
risk a bit and push my break even down below the current share price. These low priced products are often difficult to defend because
premium can be so low. Honestly, I'd be happy to take a scratch this trade if possible and remember to avoid these cheapo products in the future.

Risk Profile:

(Not to scale)
Figure 2

Strategy: Short 25 Call

sto 1 sep 20 25 call
Fill Price: $0.26 credit

Position Analysis

U/L Price: $21.95
IV: 45.2%
IVR: 62.4
Liquidity: 4/4
Position: Short 23/25 Strangle
POP: 37%
Cost Basis: $1.16
Risk: Undefined
BPR: $550
Max Profit: $1.16
Max Loss: Unlimited
Target P/L: Scratch
Break Even(s): $21.84, $26.16
Extrinsic Value: $108.00
Net Delta: 39.03
Net Theta: 2.181

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2019 Trades
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