NaughtyPines

CLOSING: XOP 30/33/41/44 IRON CONDOR

AMEX:XOP   SPDR S&P Oil & Gas Explor & Product
... for a .72/contract debit (.38 profit/contract; 34.5% max).

Notes: As with my SPY core position, I'm mixing and matching profitable short put side with short call side of oppositional setups that I put on over time to take off some risk, book some profit, and (where possible) to get a bit of delta adjustment where I need it. (Here, I pick up a smidge of needed long delta by closing this out, since price of the underlying has moved to the call side of the pairing). This also has the side benefit of allowing me to recenter a setup in the underlying if I want to and/or frees up buying power to make an adjustment trade if necessary.
Aviso legal

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