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closed Positions

ewz: 05.28.20 – 09.18.20

ETF | Brazilian Equities | Status: Closed

Adjustment #1

View original trade
06.26.20
This position hasn't really worked out so far but it's hangin' in there. The general market has pretty much just rallied all month, and only now are we starting to see a little bit of weakness. I personally don't trust the recent strength, especially considering the
has struggled to stay below 30 the entire time. I'm still very much
and being extremely cautious.
My EWZ position is not yet a winner, but today it fell back down within my
so I've decided to extend the life of this trade by
to August. I was able to collect a nice $0.72 credit, which reduces my
and my max potential loss. It also increases my maximum profit potential, improves both break-evens, reduces my
risk, and gives me more time to be right. I would just love to see EWZ drop back down to the mid 20s, which I think is a much more reasonable price. My downside risk doesn't kick in until the share price drops below $18.73 so I have plenty of room for a selloff.

Risk Profile:

Figure 2

Strategy: Roll Out

btc 2 jul 17 24 put
stc 1 jul 17 33 put
sto 2 aug 21 24 put
bto 1 aug 21 33 put
Fill Price: $0.72 credit

Position Analysis

U/L Price: $28.32
IV: 60.7%
IVR: 45.3
Liquidity: 4/4
Position: AUG 21 24/33 Put Ratio
POP: 55%
Cost Basis: $3.73
Risk: Defined
BPR: $670
Max Profit: $5.27
Max Loss: $18.73
Target P/L: $1.15
Break Even(s): $18.73 $29.27
Extrinsic Value: $148.00
Net Delta: -32.15
Net Theta: 2.406

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