Description: Initiated this neutral strategy prior to some major moves yesterday. Going back, I shouldn't have done this trade (i.e., credit was way too small for the amount of risk I was taking on).
Justification: - Directional Play: No. This strategy adds balance to my vega numbers. - Technical: Short-term zone of congestion. - Fundamental: Earnings continue to improve; Fed really supportive; jobs data positive; ISM manufacturing higher; market participants equally split between bullish and bearish ; virus data (if correct) shows the growth in virus cases slowing; trade going in a positive direction; and so on.
If/Then: - Take profit? 20% of credit received.
Strategy Details: - Short and Long leg: $2165, 2175, 2185 - Duration: Feb 21
Disclaimer: This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve (myself especially), so if you see something wrong, speak up.