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2019 Trades

KRE: 03.19.19 – 05.14.19

ETF | Banking Fund | Status: Closed

Adjustment #3

View original trade
04.08.19
Boy, do I feel so, so smart (sarcasm). After
my
down in the last adjustment, KRE went ahead and rallied several dollars with barely a down tick for almost two weeks! I pretty much hate all things KRE at this point, but that's just the nature of trading sometimes. Every now and then you do something you wish you hadn't. The best you can do is brush it off and deal with what you've got.
What I've got is a very
position, with a breached upside
It kinda sucks because I don't get much for premium for rolling my
up, but it does reduce my
which will dull the pain if KRE continues higher. At this point I just want to
this thing. Still hoping for a slight down move, but what I really need is for KRE to stop moving in one direction for weeks on end. By rolling my put up, I am left with a $2-wide
once again. I need time to pass, and the share price to hover between my
for a while.

Risk Profile:

(Not to scale)
Figure 4

Strategy: Roll Up Put

btc 1 may 17 51 put
sto 1 may 17 53 put
Fill Price: $0.51 credit

Position Analysis

U/L Price: $53.96
IV: 23.1%
IVR: 25.0
Liquidity: 4/4
Position: Short 51/53 Inverted Strangle
POP: 31%
Cost Basis: $2.79
Risk: Undefined
BPR: $1540
Max Profit: $0.79
Max Loss: Unlimited
Target P/L: Scratch
Break Even(s): $50.21, $53.79
Extrinsic Value: $173.00
Net Delta: -37.71
Net Theta: 3.603

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2019 Trades
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