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2019 Trades
xbi: 09.24.19 – 10.11.19
ETF | Biotech Fund | Status: Closed
Opening Trade
09.24.19
Today, I sold a nice, wide in XBI to take advantage of a small pop in My are as far as the 16 and the 14 delta I decided to go wider than I normally do with this strangle because XBI can be fairly volatile and its price is on the higher end of my comfort zone. If there are any outsized movements, I want to have plenty of room to accommodate them. With a completely neutral I am simply hoping for XBI to hover around its current price while volatility contracts and time passes. Looking for about 50% of max profit on this trade, so around $0.70 over the next 20-30 days.
Risk Profile:
(Not to scale)
Strategy: Short NOV 69/88 Strangle
sto 1 nov 15 69 put
sto 1 nov 15 88 call
Fill Price: $1.40 credit
Position Analysis
U/L Price: $79.33
IV: 30.3%
IVR: 33.4
Liquidity: 4/4
Position: Short NOV 69/88 Strangle
POP: 77%
Cost Basis: $1.40
Risk: Undefined
BPR: $800
Max Profit: $1.40
Max Loss: unlimited
Target P/L: $0.70
Break Even(s): $67.60, $89.40
Extrinsic Value: $140.00
Net Delta: -2.14
Net Theta: 3.941