OPENING: /CL MARCH 17TH 49.5/50.5 SHORT PUT VERTICAL
... for a 1.60 credit.
Notes: A small delta hedge. I'm just kind of organically adding/taking off to take profit and/or delta balance. Scratch at 15.60. Going out to March to take a little advantage of term structure, although the edge isn't much (January's trading at 59.07, March at 58.50).
As a standalone trade, it's probably not bad: 81% probability of profit and lines up well with long-term support.
Notes: A small delta hedge. I'm just kind of organically adding/taking off to take profit and/or delta balance. Scratch at 15.60. Going out to March to take a little advantage of term structure, although the edge isn't much (January's trading at 59.07, March at 58.50).
As a standalone trade, it's probably not bad: 81% probability of profit and lines up well with long-term support.
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