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NaughtyPines
Mar 29, 2023 11:09 PM

Opening (Margin): /MCL June 14th 55/93 Short Strangle 

Micro WTI Crude Oil FuturesNYMEX

Description

... for a 1.37/contract credit.

Comments: Selling 10 delta on each side. 1.37 credit on buying power effect of around 3.54/contract. 38.7% ROC at max as a function of buying power effect; 19.4% at 50% max. Will generally leave the setup alone, adjusting only on side test or side approaching worthless. While I like to generally hang out for 50% max, I won't hesitate to money, take, run if I get tired of looking at the setup (lol), particularly since I've gone longer-dated than usual here (77 days 'til expiry).

Trade active

Rolling the 3 delta June 14th 55 puts up to the 10 delta June 14th 67's for a .51/contract credit. Total credits collected of 1.88/contract.

Comment

Out of 1/3rd of the position for a 1.38/contract debit. .50 net profit/contract.

Trade closed manually

Out of the remainder for a 1.32/contract debit; .56 net profit/contract.
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