Opened Mar29 Apr20 169P 177C double calendar on 3/13/18
https://www.tradingview.com/chart/OsBXckpZ/
IV rank a little high on this
max risk is the debit until the front month expiration
debit 2.36
Theta 3.54
Underlying price when opened 173.20
Upper and Lower expected move 167.70 176.90
break evens 167 and 180 gives a little more room above
With the break even points being clearly outside of the expected move (per implied volatilty which is often overstated anyway) this trade has a high probability of profit. I will close it before expiration no matter what.https://www.tradingview.com/chart/OsBXckpZ/
IV rank a little high on this
max risk is the debit until the front month expiration
debit 2.36
Theta 3.54
Underlying price when opened 173.20
Upper and Lower expected move 167.70 176.90
break evens 167 and 180 gives a little more room above
With the break even points being clearly outside of the expected move (per implied volatilty which is often overstated anyway) this trade has a high probability of profit. I will close it before expiration no matter what.https://www.tradingview.com/chart/OsBXckpZ/
交易進行:
Price went below 167 the lower break even yesterday, this is new style to me but the mechanics say if 10 or more days to expiration and it hits BE either close or add another calendar at the BE strike. The p/l still shows over 50% (profit potential greater than 50% of the total debit) so for 3x calendar makes sense.
Added 167 leg (front short OTM back long OTM as all of the others for and additional 1.46 debit.
Theta now 8.19 new BE 164.5 178.5 This was done 3-19 at 10 days to expiration of the short options.
Added 167 leg (front short OTM back long OTM as all of the others for and additional 1.46 debit.
Theta now 8.19 new BE 164.5 178.5 This was done 3-19 at 10 days to expiration of the short options.
手動結束交易:
I see I did not update this one. It was closed manually on March 26, 2018 after: adding a calendar at 167, then closing the 177 calendar and manually closing all on 3-26.
Net result $203 down on trade and around $15 ($12 total commissions and $3 pass through exchange fees). The market character had changed and stopped looking at calendars for a while.
Net result $203 down on trade and around $15 ($12 total commissions and $3 pass through exchange fees). The market character had changed and stopped looking at calendars for a while.