The pullback and theta has put our trade nearly to breakeven, so we’ve just got to hold on and protect our risk.
Going to add one more adjustment here to reduce upside risk.
Buy 2 Mar 1880/1900/1920 put butterflys at 4.00 or lower.
This will cut our current deltas in half, move our breakeven up 5 points, and not really affect our theta gains much.
We will reassess the trade on friday.