... for a 3.59 debit, a 1.71 ($171) profit on that leg; scratch at 78.40.
Notes: Here, delta balancing subtractively. The September 18th 260 short put was an 11 delta strike, so by taking it off, I pick up -11 delta, leaving the entire spaghetti works slightly net short delta. I considered just rolling the 345 short call down (but it's at the 26 delta), as well as adding a slightly skewed short strangle and/or just a short call, but would prefer not getting much bigger here. Naturally, if this continues on its up grind, I'll add long delta back into the mix via short put or skewed short strangle, but think that the short to medium term risk is to the downside, so am fine with being a smidge short delta here.
Notes: Here, delta balancing subtractively. The September 18th 260 short put was an 11 delta strike, so by taking it off, I pick up -11 delta, leaving the entire spaghetti works slightly net short delta. I considered just rolling the 345 short call down (but it's at the 26 delta), as well as adding a slightly skewed short strangle and/or just a short call, but would prefer not getting much bigger here. Naturally, if this continues on its up grind, I'll add long delta back into the mix via short put or skewed short strangle, but think that the short to medium term risk is to the downside, so am fine with being a smidge short delta here.