Since there is high IV, sticking to spreads.
Long via Mar16 call spread for $2.15
POP: 39%
Max Loss: $215
Stop Loss: Price at $143.50
Max Win: $285
Target: $153 (will peel off here)
long 148 call: 48 delta
short 153 call: 25 delta
Long via Mar16 call spread for $2.15
POP: 39%
Max Loss: $215
Stop Loss: Price at $143.50
Max Win: $285
Target: $153 (will peel off here)
long 148 call: 48 delta
short 153 call: 25 delta
Trade active:
Added a Mar16 134/144 put spread for $1.34 to this trade to help on some of the theta burn.
I usually use 2x credit received as a stop on these trades, so my overall risk is calculated as $215 (above) + $268 = $483.
Max loss on spread: $866
Max win on spread: $134
Stop loss: $402 ($134*2 + 134)
Target: 50% credit received on spread
short $144 put: 33 delta
long $134 put: 11 delta
I usually use 2x credit received as a stop on these trades, so my overall risk is calculated as $215 (above) + $268 = $483.
Max loss on spread: $866
Max win on spread: $134
Stop loss: $402 ($134*2 + 134)
Target: 50% credit received on spread
short $144 put: 33 delta
long $134 put: 11 delta
Trade active:
50% target took on the short 134/144 credit spread, quick $70/contract
Also moving my stop loss up to $147 price level.
Also moving my stop loss up to $147 price level.
Comment:
Trade closed: target reached:
Just being cognizant of price action here and where we've been before. I'm taking this trade off today here into the close at $3.41 on the call spread.
Overall, I was able to walk away with $196 profit per unit block over just a few days.
Overall, I was able to walk away with $196 profit per unit block over just a few days.