Open
SELL -3 Calls 110 @ .33 CREDIT
SELL -3 PUTS 92 @ .34 CREDIT
NET NET .67 Cent Credit X 1000 Multiplier X 3 or = $2100.00 Credit.
ADJUST ONE
If you take a moment to look at the 110 call price .12-13 cents, a full point down would only advance this trade .02 more cents, and this point CHARM Theta/Time is suggesting and adjustment, as the risk vs. reward is no longer present. We will elect to turn this trade from a Theta Prem Sell to a Delta directional trade.
The Yellow bars mark the location of the original strangle, the new vertical reaches maximum potential sooner, but other positions contributed to this adjustment. In the face of Russian Ukraine turmoil this was sold, and oil went the exact opposite of the headlines, (lower) on todays Cover the headlines read, "Putin Says Russia Withdrew Troops" and Oil is going higher.
ADJUST ORDER
Leaving Delta Directional long Call vertical, and Short Put.
CLOSE
CLOSE
Thank you in advance
