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closed Positions

ewz: 02.24.20 – 05.12.20

ETF | Brazilian Equities | Status: Closed

Closing Trade

View original trade
05.12.20
This is one of my leftover trades from the meltdown we had a couple months ago. When I first got into this position EWZ was trading at $40.60. Had I just purchased 100
at that moment, this would currently be a $1,735 loser – good lord! With my defensive maneuvers, I managed to contain it to a $515 loser. Don't get me wrong, I'm not happy that I lost money. Considering what I could have lost, however, I do feel like I traded this well given the extreme circumstances.
I decided to close this position today because I've made back a considerable chunk of money. After my last adjustment, there was about $230 of
left in the options. Now that time has passed and
has
that extrinsic value is almost half of what it was. With only a little over $1 of extrinsic value left (and $0 of
I decided to accept the cash I've managed to recover as a gift and lock in the final score.
I was lucky I cashed out when I did because the market sold off pretty nicely by the end of the day. I saved myself a good chunk of money by closing it. I am in desperate need of new positions, so hopefully this little
spike will continue. Would hate to jump into a new position with the market pricing in the narrowest
in months. This little sell off might give me a better opportunity to jump back in. I wouldn't mind getting back into EWZ if I can find a trade I like. It's pretty cheap relative to what it used to be so I might consider a plain
or some sort of
We shall see when the time comes. For now, I'm just glad to be out of this messy trade and free to start again fresh and clean.

Risk Profile:

Figure 11

Strategy: Close Position

btc 1 jun 19 21 put
btc 1 jun 19 28 call
Fill Price: $1.20 debit

Position Analysis

U/L Price: $23.25
IV: 63.3%
IVR: 49.1
Liquidity: 4/4
Final P/L: $5.15 Loss

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