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August 27, 2013 at 4:43 pm
#2244
Steven Place
Keymaster
With the big selloff in the market, GS has broken support and we are now in short theta territory.
Here is the current position:
To fix the trade, we will simply do two things:
- Close out the put buy hedge
- Roll the 170 calendar to the 160 calendar.
Here is what the position risk looks like afterwards: