... for a 6.10 credit and selling the 180 call for 2.52.
Comments: Inverting my original short strangle to a 5-wide (165P/160C) and selling the 180 call to flatten net delta. Total credits collected of 17.48. Resulting delta/theta 8.27/29.95 with a downside break even of 147.52.
This underlying ... has been pesky. It's possible that taking on shares and selling call against would've been the better way to go, since it ripped up to 190 at one point (only to subsequently give it all up), which would have afforded me an opportunity to bail on the position.
Comments: Inverting my original short strangle to a 5-wide (165P/160C) and selling the 180 call to flatten net delta. Total credits collected of 17.48. Resulting delta/theta 8.27/29.95 with a downside break even of 147.52.
This underlying ... has been pesky. It's possible that taking on shares and selling call against would've been the better way to go, since it ripped up to 190 at one point (only to subsequently give it all up), which would have afforded me an opportunity to bail on the position.