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closed Positions

ewz: 02.24.20 – 05.12.20

ETF | Brazilian Equities | Status: Closed

Adjustment #9

View original trade
04.21.20
I've made back some decent money since my last adjustment. A little bit of it was
and a little has been
There's still, however, quite a bit of extrinsic value left to make. Since we are coming up on 21
this Friday and the share price is directly between my
I've decided to
to June. I was able to widen my strikes $2 on each side by giving up additional time
My best case scenario only improves by $0.14 but my ability to capitalize on
is increased with the wider spread. Hopefully, EWZ will continue to trade within the range it's been in so I can continue to make money off of
I'd probably be willing to shut this losing trade down if I can make back around half of the remaining extrinsic value – which is currently about $2.30. Doing so would still leave me with about a $5 loss which sucks, but that's better than it currently is, and way better than it was a couple weeks ago. Considering EWZ was trading more than $16 higher when I first placed this trade, a $5 loss would be music to my portfolio. XX

Risk Profile:

Figure 10

Strategy: Roll Out

btc 1 may 15 23 put
btc 1 may 15 26 call
sto 1 jun 19 21 put
sto 1 jun 19 28 call
Fill Price: $0.14 credit

Position Analysis

U/L Price: $24.13
IV: 72.5%
IVR: 59.7
Liquidity: 4/4
Position: Short JUN 19 21/28 Strangle
POP: 0%
Cost Basis: -$3.95
Risk: Undefined
BPR: $220
Max Profit: -$3.95
Max Loss: Unlimited
Target P/L: -$5.00
Extrinsic Value: $233.00
Net Delta: -2.63
Net Theta: 3.554

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