#ShortStrangles – Making an adjustment but adding a little downside protection…
Started out as a Jan 2018 175/500 strangle @ 6.10 credit
Rolled 175 to 250 @ 7.40 credit
Today rolled 250 to a 300/200 bull put spread @ 6.27 credit.
Position now 300/200 BuPS against 500 call @ 19.77 credit.
Can this thing see 500 by Jan 2018? TOS says 85 percent chance it won’t get there and a 70 percent chance 300 won’t get hit so still slightly higher downside risk.
Options Bistro 