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closed Positions

INTC: 01.23.20 – 03.27.20

Equity | Intel Corp | Status: Closed

Adjustment #6

View original trade
03.09.20
With today's market meltdown, INTC has continued to get uglier. My
started getting a bit too large as the share price breached my
so I decided to
to an
to slow the bleeding. I don't normally roll to ITM, but it was my only choice if I wanted to cut my directional risk my a meaningful amount. My
is now so deep ITM I wouldn't be surprised if I get assigned. There doesn't appear to be any
left in that strike. With this move, I forfeit any
I could have recovered, which means all that is left for me to make back is the ~$2.60 of extrinsic value. With that in mind, it may not be long before I decide to just take the loss and sell a more advantageous strangle in another product with higher extrinsic value.

Risk Profile:

Figure 7

Strategy: Roll Down Call

btc 1 apr 17 52.5 call
sto 1 apr 17 47 call
Fill Price: $3.15 credit

Position Analysis

U/L Price: $54.30
IV: 42.7%
IVR: 118.0
Liquidity: 4/4
Position: Short APR 17 52.5/65 Inverted Strangle
POP: 0%
Cost Basis: $13.60
Risk: Undefined
BPR: $1000
Max Profit: -$4.40
Max Loss: Unlimited
Extrinsic Value: $261.00
Net Delta: 27.01
Net Theta: 6.072

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