Rolled: NVDA June 17th 200 Short Call to the 170 Short Call
... for a 9.21 credit.
Comments: Late post that I was unable to get to yesterday ... . Doing a defensive roll ahead of earnings to reduce directionality in the event it continues on its path downward. I also took off the June 17th 225 short call, which I added in to reduce net delta and reduce cost basis further for an .82 debit, but didn't want to leave it on in the event price rips up, as it could complicate the setup and/or rolling. Total credits collected of 95.25 on a 105-wide inverted.
Functionally, I'm long stock at 275, but with a current cost basis of the strike price (275) - total credits collected (95.25) or 179.75, so the short call is currently below my cost basis, which I'm okay with at least temporarily. Post earnings, I'll look to roll out the inverted as a unit, reducing cost basis further (although this trade is getting quite long in the tooth).
I've indicated that it's long, not because that is my sentiment as to where the stock goes from here, but because delta/theta is 42.95/34.32.
Comments: Late post that I was unable to get to yesterday ... . Doing a defensive roll ahead of earnings to reduce directionality in the event it continues on its path downward. I also took off the June 17th 225 short call, which I added in to reduce net delta and reduce cost basis further for an .82 debit, but didn't want to leave it on in the event price rips up, as it could complicate the setup and/or rolling. Total credits collected of 95.25 on a 105-wide inverted.
Functionally, I'm long stock at 275, but with a current cost basis of the strike price (275) - total credits collected (95.25) or 179.75, so the short call is currently below my cost basis, which I'm okay with at least temporarily. Post earnings, I'll look to roll out the inverted as a unit, reducing cost basis further (although this trade is getting quite long in the tooth).
I've indicated that it's long, not because that is my sentiment as to where the stock goes from here, but because delta/theta is 42.95/34.32.
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