TradingView
NaughtyPines
Jan 15, 2020 4:55 PM

OPENING: /CL APRIL 16TH 64/65 SHORT CALL VERTICAL Short

Description

... for a 1.60 ($160) credit.

Notes: An additive, delta under hedge in the first expiry in which the at-the-money short straddle is paying >10% of the underlying. Scratch at 16.00 even.

As usual, I did look at subtractive adjustments first (i.e., taking off some put side, taking off an oppositional pair in profit), but wasn't satisfied with the short delta I would pick up by doing that.

More