OPENING: VXX NOV 16TH 30/32 SHORT CALL VERTICAL

... for a .66/contract credit.

Going small, defined risk, collecting one-third the width of the spread.
Metrics:

Probability of Profit: 55%
Max Profit: $66/contract
Max Loss/Buying Power Effect: $134/contract
Break Even: 30.66

Handel aktiv:

Taking a 1.00 of realized gain out of the long call by rolling it up to the 33 (and for an additional .33/contract credit); scratch at .99/contract.

Handel aktiv:

Playing a bit more of the "elevator up" game ... . Rolling the 33 up to the 34 for a .38/contract credit. Scratch at 1.37/contract.

Trade stängt: Stopp nått:

Adding a 27/30 short put vertical for a .67/contract credit to the setup buying power free, creating a 27/30/30/34 iron fly with a scratch point of 2.03/contract and a slightly better upside break even of 32.03 (down side break even of 27.97).

Handel aktiv:

Oops: That should be a "Trading: Active" comment ... .

Trade stängt manuellt:

Covering the short call side and the short put for a 3.06/contract debit (1.03 loser).

Kommentera:

The 27 long put is currently "no bid," so leaving it on as a lotto trade.