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closed Positions

spy: 03.03.20 – 03.30.20

ETF | S&P 500 | Status: Closed

Closing Trade

View original trade
03.30.20
Today, I decided that this trade is a total lost cause. Even with the SPY's price up almost 20pts since my last adjustment, I've made almost nothing back. Based on the fact that my
of almost zero despite being outside my
I don't expect to make any money back even if the rally continued. I'd start losing to the upside before I saw any profits recovered. The strikes are simply too close together for this to work well. If this were a $50 product things might be different but, since SPY is a $260 product, there is too much friction between the values of my contracts. So rather than sit with this for almost 2 months for a microscopic chance of making any money back, I'll save myself the $100 I have left to lose and shut it down now.

Risk Profile:

Figure 3

Strategy: Close Position

stc 1 may 15 259 put
btc 1 may 15 264 put
btc 1 may 15 280 call
stc 1 may 15 285 call
Fill Price: $3.90 debit

Position Analysis

U/L Price: $258.92
IV: 57.3%
IVR: 62.9
Liquidity: 4/4
Final P/L: $1.92 Loss

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