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Home › Forums › Member Trades › BBTrader’s Spread Sales › DLR Apr 70/65 BPS
Entered 2 contracts DLR Apr 70/65 BPS for $1 credit. Next add 2 more contracts at $1.50
Added 1 contract of the DLR Apr 70/65 BPS for $1.65 credit. Next add is 2 contracts at $2 credit
Added another contract of DLR Apr 70/65 BPS for $2.1 credit. Next add is at $2.5 credit. Position now looks like this:
Just added 1 contract DLR Apr 70/65 BPS for $2.5.. next add is 1 contract at $3 credit trade now looks like:
Added Mar 45/55/65 Put fly for $1.05 for downside protection: Looks like this:
Added 1 Contract of DLR Apr 70/65 BPS for $2.75 credit. I am holding for now. Earnings were released on 2/12 They beat on earnings and slight miss on revenue. I will hold to see if stock stabilizes here. The position is right on the cusp of being theta negative. But we have time on our side. No rolls or additions planned now. The BPS looks like this:
and the protective downside butterfly looks like this and provides much protection from further down moves on the entire position:
Added 1 contract DLR Apr 70/65 BPS for $3.15 waiting to decide what to do next. Current position looks like this on the BPS side:
And the protective Put fly for Mar looks like this:
Closed DLR Apr 70/65 BPS for $2.19 debit. Taking advantage of market run up to exit with 7.5% loss.