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KRE: 02.24.20 – 03.23.20

ETF | Banking Fund | Status: Closed

Adjustment #2

View original trade
03.02.20
KRE's
has skyrocketed from the 20s to the 40s, and the price has dropped from almost $54 to $47 over the past week. This has caused my
to hit the 50 mark this morning so I
my
to reduce risk, improve my
and increase my
levels. It kind of sucks because I had to
my
but it was the
decision. With higher extrinsic value levels, I don't need to rely on an up move to make money back. Secondly, I'll have better protection if KRE continues to sell off. At this point, I'll likely make the most money through a volatility contraction.

Risk Profile:

Figure 3

Strategy: Roll Down Call

btc 1 apr 17 52 call
sto 1 apr 17 48 call
Fill Price: $1.43 credit

Position Analysis

U/L Price: $47.02
IV: 50.2%
IVR: 98.1
Liquidity: 4/4
Position: Short APR 17 48/51 Inverted Strangle
POP: 22%
Cost Basis: $4.14
Risk: Undefined
BPR: $1220
Max Profit: $1.14
Max Loss: Unlimited
Target P/L: $0.95
Break Even(s): $46.86, $52.14
Extrinsic Value: $298.00
Net Delta: 25.05
Net Theta: 4.700

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