Made a slight adjustment to the /CL strangles. So I finally had a break from seeing patients at lunch and did not realize oil was down 2.4 and my profitable trade 2 days ago now shows a paper loss. I am still well OTM but only have 7k margin left to play with so made adjustment.

Rolled the Aug 17 /CL 55 call down to 53.5 booking a $440 profit plus the $320 from 2 weeks ago previous roll and brought in another $170. If am doing the math right that is $930 profit against the $880 paper loss on the Aug put contracts. As long as it stays above 41.5 for another 2 weeks should be 30-50% profitable. Just need a little more decay and to stop moving downhill.

The Sep 17 57/39 strangle is being left alone, it is only down $320 on paper because of less gamma risk. That should decay 50% in 3-4 more weeks as well.

Will keep you posted although probably easier and more profitable just to set up SVXY ladders like the rest of the group.

However, I get tax benefit by trading the futures options.