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Closing (Margin): /MES Feb 28th 4200, 4220, 4250, 4260 CallsComments: Doing this all in one fell swoop, rather than in separate posts. Closed: February 28th 4200 Short Call for an 11.00 debit. (22.00 - 11.00)/.20 = $55.00 profit. February 28th 4220 Short Call for a 9.00 debit. (16.50 - 9.00)/.20 = $37.50 profit. February 28th 4250 Short Call for a 6.50 debit. (13.25 - 6.50)/.20 = $33.75 profit. February 28th 4260 Short Call for a 5.75 debit. (13.50 - 5.75)/.20 = $38.75 profit. Opened: February 28th 4110 for a 27.00 credit. February 28th 4130 for a 22.25 credit. February 28th 4160 for a 16.25 credit. If you're asking yourself why I'm selling at these particular strikes, it is to sell call against at a delta that is correspondent with existing legs' short put delta (e.g., the 4110, -23 delta short call strike was selected to sell against my 3770 +24 delta short put; the 4130, -20 delta short call against my 3740, +21 delta short put, etc.). When I finished doing this, I also figured I could afford to resolve having the extra short call unit on by just closing one of the extra short calls that was currently in profit. This leaves me slightly net delta long in the position.
CME_MINI:MES1!
by NaughtyPines
Closing (Margin): /MCL February 15th 68/93 Short Strangle... for a .98 debit. Comments: Although I've still got 30 days to go with this, taking it off in small profit without affecting net delta much (the 68 was at the +11 delta, the 93 at the -10), leaving me with the fairly narrow 74.5/84 to manage in the Feb cycle, along with a far out-of-the-money short put at the 67. I'll leave that short put on here since I still need its long delta at the moment. Collected a total of 1.24 in credits for the 68/93, so closing out here for .98 results in a .26 ($26) profit. I generally like to wait for at least .50 ($50) to take these off, but am already up decently on my /MCL trades for the month, so feel okay with taking small profit here, simplifying the position, and freeing up the buying power to get ready to move into the next cycle.
NYMEX:MCL1!
by NaughtyPines