We added a short August 102 put to our position for 3.10, making us long six August 98 puts and short three August 102 puts for a net debit of 2.28. On a delta basis, the position is nearly dead-neutral at current prices, but because it is a backspread, we’ll automatically get longer if DIA rises and shorter if DIA falls. For now, no position adjustment is necessary, but you should check this tout (or the chat room) for intraday updates, since a violent move could bring us opportunity.
Next Hidden Pivot Seminar: June 6th-7th
Save $50 when you register before May 25. Coupon code 7D5629
Comments on this entry are closed.