.. for a 2.18 credit.
Comments: The short put aspect of a long put diagonal, the back month long of which is in June at the 520 strike. Cost basis in the setup is now 63.58 (debit) with a 456.24 break even.
By widening the diagonal a bit, I'm increasing not only profit potential, but also shortening net delta of the diagonal a little bit since an at-the-money...
Here, I'm looking to add some long delta to my portfolio, although it's also good as a stand alone trade in this low volatility environment. The short-dated put is being sold at the ~20 delta strike, the long-dated one at the ~15, so I'm picking up about 5.00 positive delta/contract from this setup.
Unfortunately, with diagonals, we're not able to precisely...
