,
21 tweets,
6 min read
Read on Twitter
Off to a good start with this UPL Strangle 
The 3.5% move up didn't do any good to this Trade either. My Plan is to Trade it the classic TastyTrade way- let the Short Strike be breached, convert it to a Straddle and let the clock run out. Might move the PE up 1-2 Strikes though.
Sold 2x740PE at 6.50
Moved the 720PE up to 740PE for a credit of 2.50
Not too bad after todays adjustments. Hopefully it should go sideways or better reverse a bit. If not, will move 2x740PE up to convert to Straddle if it breaches 820CE.
Sold 2x760/860 Strangles for 13.70
Now in the Green with Delta's looking Ok.
Struggling with this one. Keeps going up every day. Almost at adjustment Point at 820
Finally getting some traction on this Trade! Now up 20k or about 2% ROC
Fell a tad bit more than I would have liked-but now up 33k or more than 3% ROC
Wow! What a surge! Quickly heading to my adjustment point of 820. If it gets there, will move the 740PE upto 800PE
Moved 2x740PE to 800PE for credit of 9.50
This is proving to be a tricky Trade with Price moving from one extreme to another. Lost about 25% of MTM Profit but added 22k Premium. Will look to exit this Trade next week. If it falls below 800, will move the 860CE down, if it goes above 840 will move bal 740PE to 820PE
Plenty of idle Capital available after exiting the Axis Bank and Titan Trades. Used some to sell 2x760PE at 3.50 to cut deltas
Slow going but up 31k or about 3% ROC. If it behaves for 2 more Trading Sessions should be able to get 4% ROC.
The Stock behaved and the Position couldn't be better placed-almost perfectly Delta Neutral. But Vol played spoilsport. IV's went up some 3-3.5 Points and took away some 20k- Theta decay for today and the weekend. But this has to improve next week
Position still beautifully placed Positionally but IV's still going up. Vega took away 4k of MTM Profit and about 8k of Theta. But only 8 Trading Sessions left so something has to give. Hanging on for the time being
Still no relief from Vega as IV's continue to remain high-but at least they didn't increase and eat into the days Theta. Now up 46k or more than 4%. Will look to get out of this and move into March expiry soon
Moved 2x740PE up to 780PE for credit of 2.25
Exited with Profit of 64k or almost 6% ROC
Here's how it looks at exit. Out of all Positions for Feb expiry. Will now start with Positions for March expiry
