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2019 Trades

XOP: 08.01.19 – 09.09.19

ETF | Oil and gas | Status: Closed

Adjustment #2

View original trade
08.07.19
Another big down move has depleted the value of my 25
Since there's not much left to make on this option, I'm
another
to the 24 call. This is tough because I'm pretty sure I'm setting myself up for being whipsawed. Still, like yesterday's adjustment, it is the
decision. If I do get double whammied on this thing, I'll deal with it when the time comes. For now, the best I can do is try to
and let the numbers dictate my decisions. This pushes my
down just a bit, and gives me a little more

Risk Profile:

(Not to scale)
Figure 3

Strategy: Roll Down Call

btc 1 sep 20 25 call
sto 1 sep 20 24 call
Fill Price: $0.15 credit

Position Analysis

U/L Price: $21.30
IV: 43.5%
IVR: 56.3
Liquidity: 4/4
Position: Short 23/24 Strangle
POP: 31%
Cost Basis: $1.31
Risk: Undefined
BPR: $560
Max Profit: $1.31
Max Loss: Unlimited
Target P/L: Scratch
Break Even(s): $21.69, $25.31
Extrinsic Value: $89.00
Net Delta: 45.85
Net Theta: 2.050

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2019 Trades
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