Going to close this trade for a small loss here. TLT pulled back hard and it’s basically a gift that we’ve seen this much reversion.
Yes technically if I had added properly the trade would be profitable but price action really was an upside freight train all through the month of February.
Buy to close TLT Feb 125/130 call spread @3.60
Buy to close TLT Feb 125/120 put spread @.10
That puts losses at around 15 bucks per spread, which is a -11% loss vs risk. Considering full size wasn’t added, I’ll consider this small loss a “win.”