OPENING: CL1! DEC 16TH 49/50 SHORT PUT VERTICAL
... for a 1.50 credit.
Notes: A delta adjustment trade in the December cycle. With the position skewing short and in anticipation of stripping off November's long put verticals (thus reducing position long delta) in short order, selling long delta here to all but return the entire spaghetti-works to net flat delta. Scratch at 9.20 versus current position value of 7.30. I may work this position across cycles rather than closing it down at month end since I sold hedges out in January and February, but we'll see how it goes ... .
Notes: A delta adjustment trade in the December cycle. With the position skewing short and in anticipation of stripping off November's long put verticals (thus reducing position long delta) in short order, selling long delta here to all but return the entire spaghetti-works to net flat delta. Scratch at 9.20 versus current position value of 7.30. I may work this position across cycles rather than closing it down at month end since I sold hedges out in January and February, but we'll see how it goes ... .
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