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NaughtyPines
Jun 24, 2022 2:40 PM

Rolling: XBI July 15th 65C/75P to August 70/86 

SPDR Series Trust SPDR S&P Biotech ETFArca

Description

... for a 9.88 debit.

Comments: As with my IWM trade, paying a debit to uninvert this setup, free up buying power, and turn it into a higher POP (Probability of Profit) setup. I had collected a total of 11.65 in credits up to this point, so I'm still net credit by 1.77 after doing this, but with a smaller buying power footprint and with "delta/theta happy" metrics at -2.66/8.70. Like the IWM trade, however, it's under water: it's currently marking at 5.42. I had a brief opportunity to take it off for a .70 loss, but it decided to move too much ... .

Comment

Oh, sure. Now roll back into my previous setup (which would have benefitted from price staying in between 65 and 75 rolling into expiry). Lol.
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