OPENING: SLV JULY 20TH 16 SHORT/OCT 19TH 13 LONG PUT DIAGONAL
... for an .79/contract credit.
Taking a directional shot here on silver weakness. In essence, it's a synthetic covered call with the short put aspect of the setup around the 70 delta. The long put is thrown in to bring in buying power effect over the naked for those that are working in a cash secured environment. On margin, you won't be saving much in buying power by buying the long ... .
Will look to take profit on just the short aspect at 50% max and look to reuse the long if another bullish assumption setup presents itself between now and October ... .
Taking a directional shot here on silver weakness. In essence, it's a synthetic covered call with the short put aspect of the setup around the 70 delta. The long put is thrown in to bring in buying power effect over the naked for those that are working in a cash secured environment. On margin, you won't be saving much in buying power by buying the long ... .
Will look to take profit on just the short aspect at 50% max and look to reuse the long if another bullish assumption setup presents itself between now and October ... .
Dagangan ditutup secara manual:
Covering the July 16 short puts for a .60 db/contract. They were put on for .86/contract, so .26/contract profit (30% max). Re-using my long put and selling the ATM 15.5's for .31/contract.
Dagangan aktif:
Adding a short call component to this -- a July/Oct 15.5/18 for a .22/contract credit, so now it's a July/Oct 13/15.5/15.5/18 double diagonal ... .
Dagangan ditutup secara manual:
Scratching this trade out here for a .54/contract debit. The short strangle body of the setup just didn't seem very compelling the more I looked at it. Would rather deploy into the more volatile GDX or GDXJ to take advantage of SLV/GLD movement, since SLV/GLD IV is never very high.