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closed Positions
xli: 02.25.20 – 05.15.20
ETF | Industrial Fund | Status: Closed
Adjustment #5
View original trade
03.16.20
Today I both my and my to reduce my slowing directional risk to the downside. I also narrowed my from $10 down to $7 for $2.60 – $0.40 less than ($3.00 - $2.60 = $0.40). This improves my best case scenario by $0.40 in exchange for closer upside risk. The move also allows me to collect more which will be vital in helping me recover much of my losses once finally starts to decline. This decline in IV should start to happen once panic calms down a bit and the market's price movements start getting smaller. They may go back up, or continue to drop, but as long as they become less extreme IV should start to normalize. Until then, my only choice is to keep my rate of loss manageable by reducing delta.
Risk Profile:
Strategy: Roll Down Put and Call
btc 1 apr 17 70 put
sto 1 apr 17 66 put
btc 1 apr 17 60 call
sto 1 apr 17 59 call
Fill Price: $2.60 debit
Position Analysis
U/L Price: $57.84
IV: 81.0%
IVR: 95.5
Liquidity: 4/4
Position: Short APR 17 59/66 Inverted Strangle
POP: 0%
Cost Basis: $4.70
Risk: Undefined
BPR: $2150
Max Profit: -$2.30
Max Loss: unlimited
Extrinsic Value: $632.00
Net Delta: 22.24
Net Theta: 13.287