AMEX:XLU   SELECT SECTOR SPDR TRUST AMEX UTILITIES SELECT INDEX
IV isn't extremely high, but has spiked up a bit in Utilities, so I'm looking at placing a strangle here.

-1 Sept21 50/54 strangle for $1.14 cr . I will likely manage this position at 50% and we'll deal with specific loss mgmts when we get there.
Trade active: After today's candle, I wanted to get a bit more bullish on XLU. I rolled the $50 put up to $52 for add'l $.51 cr. The overall credit is $1.65 now and new pay off diagram looks like this:

Trade active: Price is breaking out, so I wanted to get a bit more bullish deltas back in. Rolled up the $52 put to $54 for $.92 cr.

New payoff diagram looks like this:

Trade closed manually: Closing this trade today on it's large up move, $1.95 db. $63 winner/contract.

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