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2019 Trades

xlk: 05.23.19 – 07.01.19

ETF | Technology Fund | Status: Closed

Adjustment #2

View original trade
06.20.19
Another day, another rally. XLK is now
my
forcing me to take some action. With only 29
I would have preferred to
and keep the original space between my
Unfortunately the August options are not yet available so I have no choice but to narrow my
by
my
up a bit.
Since tomorrow is June
I expect that August options should become available by Monday. With that in mind, I've decided to risk a bit more pain by keeping my strikes as wide as possible. Instead of rolling up to the 76 strike for around $0.55, I've decided to only to roll to the 75 strike for $0.36 leaving XLK more room to land in the event of a selloff. This way I stand to make more money back in a down move, but I risk losing more money in the event of another rally. I am also keeping in mind that I'd rather have wider strikes going into August, since I'll be adding so much time to the trade.
Hopefully XLK plays nice and goes down, or at least slows down for a day or two. If not, I'll continue to
and eventually roll out to improve my
and my

Risk Profile:

(Not to scale)
Figure 3

Strategy: Roll Up Put

btc 1 jul 19 71 put
sto 1 jul 19 75 put
Fill Price: $0.36 credit

Position Analysis

U/L Price: $79.15
IV: 19.8%
IVR: 15.5
Liquidity: 4/4
Position: Short 75/77 Strangle
POP: 42%
Cost Basis: $2.07
Risk: Undefined
BPR: $1720
Max Profit: $2.07
Max Loss: unlimited
Target P/L: $0.65
Break Even(s): $72.93, $79.07
Extrinsic Value: $124.00
Net Delta: -53.22
Net Theta: 4.372

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2019 Trades
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