BTO Jun19 1 46, -2 43 & 1 42 Put BBWB (Backwards BWB)
Opening: Backwards Broken Wing Butterfly (thanks NaughtyPines for the strategy idea)
debit = 1.26
VXX spot $46.32.
Theta = -.136
Breakeven around 44.60.
Max p / l 174 / 126.
No downside risk with profit (at expiration) of $74 with spot below $42.
We cannot tell the future but am thinking This "Volpacalypse" will roll back at some (before June?) point.
If this works it will hedge some call credit verticals that are currently in the money and on the
"roll till scratch/profit list.
debit = 1.26
VXX spot $46.32.
Theta = -.136
Breakeven around 44.60.
Max p / l 174 / 126.
No downside risk with profit (at expiration) of $74 with spot below $42.
We cannot tell the future but am thinking This "Volpacalypse" will roll back at some (before June?) point.
If this works it will hedge some call credit verticals that are currently in the money and on the
"roll till scratch/profit list.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.