NaughtyPines

OPENING: GDX MARCH 20TH 27/32 SHORT STRANGLE

NaughtyPines Updated   
AMEX:GDX   VanEck Gold Miners ETF
... for a 1.16 credit; delta -3.15/theta 1.60.

Notes: Going small here in the first expiry in which the short straddle pays greater than 10% of the stock price. Will add if necessary to delta balance.
Trade active:
Making a delta adjustment in the first expiry in which the at-the-money short straddle pays greater than 10% of the stock price: selling the April 17th 25/30.5 short strangle for a 1.09 credit; scratch at 2.25; delta/theta 8.85/2.67.
Trade closed manually:
Covering here for 1.75, .50/$50 profit. Will look to re-up with a clean setup in April.
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