Increase in IV here, due to the oil sell off. Sold -1 Aug17 41/46 strangle for $1.38 cr.
2x cr received stop loss here or 50% Win are my targets.
2x cr received stop loss here or 50% Win are my targets.
Trade active
Rolling this trade out to Sep21 for add'l $.90 cr. I also moved up to the $47, rather tha $46.I was able to peel off the first strangle for $40 winner.
Note
New payoff diagram.Trade closed manually
Closing this trade as XOP's IVR has dropped to 3%. It also had 53 more days to go to earn 10-20%, which just isn't worth the risk.Closed for $1.30 db. Overall, I was able to claw out around $98 on this trade in 20 days.
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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.