SVXY synthetic week 3

Rolled the 75 calls this week up to 76 next week for 0.68 credit. Because I had rolled the 79 down to 75 earlier this week, not much profit this week, but still lowers the cos basis to 13.22 on the first batch and 18.30 on the second batch.

So basically reduce the cost basis by $2-3 each week by rolling the short options. That should create a risk free position in another 6-8 weeks, then any sales is pure profit and any long term appreciation will be icing on the cake all the way to Jan. 2019.

I cannot load the graph from my work computer but max profit next week would be $980 on 4 contracts if we close at 76. Seems like SVXY will be stuck between 70-80 for a while but will roll the short calls up any chance I get.

#longcalldiagonals