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NaughtyPines
Dec 7, 2022 12:17 PM

Opening (Margin): /NG January 26th 12.5/13.5 Short Call Vertical Short

Henry Hub Natural Gas FuturesNYMEX

Description

... for a 1.80 credit.

Comments: Short call vertical hedge against my short put verticals. Will look to take off the 1.8/2.8/12.5/13.5 iron condor on which I've collected a total of 3.60 ($360) as a unit at 50% max and scratch out the more at-risk 1.9/2.9 short put vertical if I get the opportunity.

Comment

On a side note, these spreads aren't all that liquid and show a wide bid/ask. This could be partly due to the fact that I'm not using the "active" contract here (/NGF3), but rather the next one (/NGG3). They may tighten up on roll over from "F" to "G."

Trade closed: target reached

Hit 50% max today. .90 ($90) profit with 38 days to go.
Comments
qhuynh1896
When do you consider to close this ccs, if the price continues to go up in couple weeks?
NaughtyPines
@qhuynh1896, I'm looking to take profit at 50% max, but am keeping an eye on it, since I don't think we ever get close to 12.5.
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