Decent breakout in BIDU and some small profits are in the trade right now… but I’m really concerned about reversion here. All it takes is a bit of a pullback and the risks become much greater in the trade.
Going to close this out and move on.
Buy to close BIDU Apr 200/220 strangle @3.88
Sell to close BIDU Apr 210 straddle @11.03
Return of about 60 bucks per spread which is a RoR of 9.4%. Not the best but we have to worry about time decay risk here.