back

closed Positions

xli: 02.25.20 – 05.15.20

ETF | Industrial Fund | Status: Closed

Adjustment #9

View original trade
04.07.20
XLI is simply merciless. I tried to hold out adjusting this for as long as possible but I can't fight reality. I've been completely
by this crappy position. The market has rallied by unbelievable amounts off of its lows in a matter of days. Yesterday's move in the
was astronomical, blasting through the 6% barrier in a single day. That's about 160 points! Keep in mind this is after several up moves of similar magnitude in the weeks preceding it. XLI followed suit with a pretty massive move of its own. Since my last adjustment XLI is up a whopping $14.28 – a 30% rally... Good Lord!
So, now, I'm losing to the upside. It's frustrating. Not to mention, it's extremely difficult to bring myself to
my
after the total meltdown we've had. It totally feels like I'm being suckered, but I have no choice but to stay disciplined and make the
adjustment. After this, my goal for this position is hold out long enough to let
fall beneath the $200 mark. Once that threshold is breached I'll seriously consider shutting this thing down once and for all. It's currently at around $400 which is just a little more
than I'm willing to pay. This position also brings in
which I'd like to keep for now.

Risk Profile:

Figure 10

Strategy: Roll Up Put

btc 1 may 15 58 put
sto 1 may 15 63 put
Fill Price: $1.69 credit

Position Analysis

U/L Price: $62.40
IV: 47.2%
IVR: 41.2
Liquidity: 4/4
Position: Short MAY 15 49/63 Inverted Strangle
POP: 0%
Cost Basis: $6.18
Risk: Undefined
BPR: $2430
Max Profit: -$7.82
Max Loss: unlimited
Extrinsic Value: $397.00
Net Delta: -38.20
Net Theta: 8.068

back

closed Positions
Open a Tastyworks Brokerage Account