SVXY adjustment

#ReverseRoll #ShortStrangles – I may let some stock go next week via the covered call route. Adjusting my August strangle to possibly get long again but also limiting risk.

Originally sold 80/180 strangle for 3.55 but starting to wonder about the 180 call so pulling the @Jeff reverse roll.

Rolled SVXY AUG 18 2017 180.0 Call to AUG 18 2017 185.0/175.0 Bull Put spread @ 2.20 credit.

Total premium received is now 5.75 on the 10 wide spread. Keeps going up it’s all good. If she tanks no matter how low it goes I’ll be in the stock at a basis 4.25 above where it’s trading at the time…lower the better if an implosion happens! Now…do I resell the call side? 🙂

#takeonefortheteam, #vxxgame