XLF vs. FAS

XLF @ $24.36

BTC XLF Aug 21 $25 short straddle @ $0.68 (originally sold for $1.02)

Cover is the Jan 2022 15 PUT / 30 CALL long strangle @ $ 1.56

New set of straddles for XLF to be sold on Monday.

FAS @ $36.38

BTC FAS Aug 21 $40 short straddle @ $3.70 (originally sold for $3.34)

STO FAS Sep 04 $36 short straddle @ $3.29

Cover is the FAS Jan 2022 20 PUT / 70 CALL long strangle @ $ 10.28

It’s early days but I’m expecting FAS volatility to be too high for this strategy. I’ve already moved to selling 14DTE for FAS, the next modification will be selling strangles rather than straddles.

#DiagonalButterfly