NaughtyPines

SPY JAN 17TH 282 SHORT STRADDLE -- CONT'D

AMEX:SPY   SPDR S&P 500 ETF TRUST
This is a continuation of a short straddle I've been diddling around with since July ... .

As of the last roll (See Post Below), my scratch point was 24.71 versus the straddle value of 27.79. As of today's close, its value was 27.32 with 19.49 of extrinsic and delta/theta metrics of -23.07/8.55. I also erected a November 270 short put (currently 22.82 delta) as a hedge which I will work independently ... .

From a trade management standpoint, I've been looking to periodically roll out for a realized gain and/or to keep the short straddle within +/- 30 delta of neutral.
Trade active: Taking .90/contract profit over last week and rolling out to March "as is" for a 5.22 credit. Scratch at 29.93 versus Friday close straddle value of 32.16; delta/theta of 7.53/-11.22.
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