Opening (Margin): XOP September 15th 113/148 Short Strangle

... for a 2.66 credit.

Comments: Short put for the IRA (See Post Below); short strangle for the margin.

Selling the 16 delta strikes on both sides. 2.66 credit on buying power effect of 12.98; 20.5% ROC at max; 10.3% at 50% max.

Comment:

Pretty much just looking for the underlying to stay within the range it's been in all year ... .

Trade active:

Rolling the put side up to the Sept 15th 131 for a 1.63 credit to cut net delta in about half. Total credits collected of 4.31.

Trade active:

Rolling the put side up to the September 15th 137 for a 1.15 credit to cut net delta in about half. Total credits collected: 5.43.

Trade closed manually:

Closed today for a 6.70 debit. 1.27 ($127) loss. Flat in the margin account while I do a little vay-kay.