$SVXY #CoveredCalls #OptionLadder – a couple of large rollups on the opening tick. I split a large short position expiring today into two new positions with different expiration dates.
Bought to close SVXY Aug 19 2016 70.0 Calls @ 3.30 / Sold Sep 16 2016 75.0 Calls @ 3.40
Bought to close SVXY Aug 19 2016 70.0 Calls @ 3.32 / Sold Sep 23 2016 75.0 Calls @ 4.38
Both trades are cash flow positive, adding to my cash balance, and this moves the strike price up 5 points, above the YTD high of 74.16.
I might have been able to do better by waiting but at least it’s a big position I don’t have to watch today.