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closed Positions

ewz: 02.24.20 – 05.12.20

ETF | Brazilian Equities | Status: Closed

Adjustment #5

View original trade
03.12.20
EWZ was down another 13%+ this morning so I had no choice but to take action to reduce my
Instead of further
the
I decided to fully uninvert them and
both to the 29 strike. This maneuver eliminated the remaining $3 of locked-in loss for $2.85 – essentially a $0.15 discount. It reduced my directional risk by nearly 50%, boosts my
levels, left me some room to benefit from
if the share price rebounds, and slightly improves my best case scenario.

Risk Profile:

Figure 6

Strategy: Roll Down Put and Call

btc 1 apr 17 30 call
sto 1 apr 17 29 call
btc 1 apr 17 33 put
sto 1 apr 17 29 put
Fill Price: $2.85 debit

Position Analysis

U/L Price: $25.30
IV: 90.0%
IVR: 117.1
Liquidity: 4/4
Position: Short APR 17 29 Straddle
POP: 0%
Cost Basis: -$1.22
Risk: Undefined
BPR: $1400
Max Profit: -$1.22
Max Loss: Unlimited
Extrinsic Value: $265.00
Net Delta: 33.50
Net Theta: 6.279

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