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closed Positions

ewz: 02.24.20 – 05.12.20

ETF | Brazilian Equities | Status: Closed

Adjustment #6

View original trade
03.18.20
The hits keep comin'. Nothin to do but keep
my
Today I'm just rolling down my
leaving me, yet again, with an
To refresh the context around this horrible trade, EWZ has dropped nearly 49% since I first established it and 57% from it's high in January. Had I purchased plain shares, I'd be down almost $2000, and would basically need EWZ to double just to
My defense hasn't saved me from pain, but it's contained my losses to half of that amount, 25% of which I could make back if this position were to
at its current price. If it expired anywhere between my strikes, I could make almost 50% back. Of course, the position is going to change as time goes on – hopefully for the better – but it's at least comforting to stand back and see just how helpful my defensive tactics have been through this disaster.

Risk Profile:

Figure 7

Strategy: Roll Down Call

btc 1 apr 17 29 call
sto 1 apr 17 23 call
Fill Price: $1.70 credit

Position Analysis

U/L Price: $20.81
IV: 143.9%
IVR: 100.5
Liquidity: 4/4
Position: Short APR 17 23/29 Inverted Strangle
POP: 0%
Cost Basis: $0.48
Risk: Undefined
BPR: $1425
Max Profit: -$5.52
Max Loss: Unlimited
Extrinsic Value: $241.00
Net Delta: 31.57
Net Theta: 8.464

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