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2019 Trades

xli: 08.26.19 – 10.04.19

ETF | Industrial Fund | Status: Closed

Adjustment #2

View original trade
09.24.19
XLI has finally had a little bit of down movement, and with today's selloff the share price is centered almost perfectly between my
Since there are only 24 days left before OCT
and I
at 21
by default, I've decided to roll early to take advantage of this heightened
and
neutrality. Rolling out to November for a $0.28 credit slightly improves my
and allows me to widen my strikes for a higher probability of profit. I now have an extra $1.28 of room to the upside, and an extra $3.28 of room to the downside. I wanted a little extra padding to the downside, just in case disaster strikes.

Risk Profile:

(Not to scale)
Figure 3

Strategy: Roll Out

btc 1 oct 18 75 put
btc 1 oct 18 78 call
sto 1 nov 15 72 put
sto 1 nov 15 79 call
Fill Price: $0.28 credit

Position Analysis

U/L Price: $77.10
IV: 19.5%
IVR: 22.1
Liquidity: 3/4
Position: Short NOV 72/79 Strangle
POP: 63%
Cost Basis: $1.71
Risk: Undefined
BPR: $1390
Max Profit: $1.71
Max Loss: unlimited
Target P/L: $0.50
Break Even(s): $70.29, $80.71
Extrinsic Value: $202.00
Net Delta: -16.74
Net Theta: 3.558

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2019 Trades
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