OPENING: XOP AUG 17TH 42 SHORT STRADDLE

... for a 2.90/contract credit.

Metrics:

Max Loss/Buying Power Effect: Undefined/8.48/contract
Max Profit: 2.90/contract
Break Evens: 39.10/44.90
Theta: 4.52
Delta: -10

Notes: Just looking to add some more theta to the pile in August in non-single name, as the September monthly remains too far out in time for my tastes. Because of its duration, will start to look to take profit at 10% max.

Trade closed: target reached:

Closed for a 2.61/contract debit; .29 ($29)/contract profit.