... for a 32.13 debit.
Comments: High IVR/IV. Selling the -84 delta call against shares to emulate the delta metrics of a 2 x expected move 16 delta short put, but with the built-in defense of the short call.
Metrics:
Buying Power Effect/Break Even: 32.13/share
Max Profit: 1.87
ROC at Max: 5.82%
50% Max: .94
ROC at 50% Max: 2.91%
Will generally look to take profit at 50% max, roll out short call if take profit is not hit.
Comments: High IVR/IV. Selling the -84 delta call against shares to emulate the delta metrics of a 2 x expected move 16 delta short put, but with the built-in defense of the short call.
Metrics:
Buying Power Effect/Break Even: 32.13/share
Max Profit: 1.87
ROC at Max: 5.82%
50% Max: .94
ROC at 50% Max: 2.91%
Will generally look to take profit at 50% max, roll out short call if take profit is not hit.
Note
Rolling the in-profit 34 short call down and out to the May 17th 32 for a 2.67 credit. 29.46 break even.Note
Reducing long delta by rolling down in-profit short call. Rolling the -32C down to the -30C for a 1.15 credit; 28.31 break even.Trade closed manually
Gotta know when to fold 'em ... . Closed for a 24.70 credit; 3.61 loser.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.