#ShortStrangles #ReverseRolling – Current position was 170/150 inverted @ 25.24

Bought to Close NVDA JUN 16 2017 150.0 Calls @ 15.00
Sold NVDA JUL 21 2017 180.0/150.0 Bull Put Spreads @ 15.16

That keeps the new position in expirations prior to earnings. If we don’t get an earnings run I should be able to make a nice roll into the high IV of earnings. You know IV will be through the roof this time!

Not getting greedy so don’t want a double size bullish position so:

Bought to Close NVDA JUN 16 2017 170.0 Puts @ 7.70

That’s considerably less than I received for multiple roll ups this week…still preserving 17.70 premium and now completely out of the PITA call side and reducing margin required by about two thirds. Downside is I’m highly directional now…gulp!