#PerpetualRollingStrangles – Well…it’s with a heavy heart I bid farewell (for now) to an old friend. Been in the starting lineup for about 15 months. Just a little ‘ol 3 lot strangle that’s been rolled around and rolled around plugging away day after day. Reversed it into a bull put spread and now with the big run up I’m booking the whole thing.
Great trade on the reverse roll but not so hot on selling the calls above it yesterday. Still a nice winner…
Bought to Close WYNN FEB 16 2018 200.0/170.0 Bull Put Spreads @ 5.81 (sold for 16.70)
Bought to Close WYNN JAN 26 2018 195.0 Calls @ 5.75 (sold for 1.00)
Net gain of 6.14 on this 5 lot. The (very good) news is the total profit this ticker has generated since the beginning. Averaging a 3 lot the entire time premium received was just north of 40 points carrying about 5k margin during the run.
RIP WYNN (for now)
Options Bistro 