I apparently neglected to post this when I put it on back on March 27th in the kid's small account, and am doing so here primarily to keep track of cost basis.
Here's the blow by blow:
On March 27th, I opened this trade for a .50/contract credit.
On April 7th, I closed out the short put side for a .05/contract, with a resulting cost basis of .45/contract. Because I needed some short delta, as well as thinking that oil would come off its highs post-OPEC jawboning, etc., I haven't yet moved to cover the short put side or to roll out the short call side for duration (to the June monthly) and then sell a short put vertical against.
I will look at doing that next week ... .
Here's the blow by blow:
On March 27th, I opened this trade for a .50/contract credit.
On April 7th, I closed out the short put side for a .05/contract, with a resulting cost basis of .45/contract. Because I needed some short delta, as well as thinking that oil would come off its highs post-OPEC jawboning, etc., I haven't yet moved to cover the short put side or to roll out the short call side for duration (to the June monthly) and then sell a short put vertical against.
I will look at doing that next week ... .
Trade active
Rolling the call side out as is to June for a .06/contract credit and selling the 34/36 short put vert against for a .32/contract credit. Cost basis at .83. I also had a corresponding naked short strangle on in my own account: rolled the 39 short call for a .49/contract credit, sold the 36 short put against for a .65 credit, covered the May 18th 32 short put for .04. Cost basis in that puppy is .98 + .49 + .65 - .04 = 2.08/contract.Trade closed manually
Covering the IC for a 1.09 debit on this down day, resulting in a small loser (.26). Also covering the short strangle for 1.93, so small winner (.15).
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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.