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Home › Forums › Member Trades › BBTrader’s Spread Sales › HUM Mar 160/165 Bear Call Spread(BCS)
Entered 2 contracts of HUM Mar 160/165 BCS for $1 credit. Next add is 2 more contracts at $1.35 credit
I think this will work, hope that does not jinx you. I would probably consider this for a post earnings calendar if the volatility drops enough.
Added 2 contracts of HUM Mar 160/165 Bear call spread for $1.35 credit. Next add 2 more contracts at $1.75 credit.
Position now looks like:
Added 2 contracts of HUM 160/165 BCS at $1.75 credit and 2 contracts at $2 credit. Next add will be 1 contract $2.50 credit. Current position looks like this:
Modifiying next add to 1 contract @ $2.75 credit
Added 1 contract at $2.75 and last add will be 1 contract at $3.75 credit
Created an unbalanced Iron Fly by adding 4 contracts of the Mar 160/155 BPS for $1.20 credit. Position looks like this.
Rolled the Call side via a buttefly roll. 5 Contracts (not entire 9) of Mar 160/165/170 Calls for $1.20 debit. Trying to bring down the delta a little and keep off a gamma knife edge and trying to keep theta positive. Will be monitoring carefully and if we don’t get any reversion will like roll out in time. Current position looks like:
Rolling up the call side a little. Added 2 contracts Mar 160/165 (bought 2 160’s sold 2 165’s) debit spread for $3.02 debit. If we take out todays highs I will likely close the trade at a loss. Position now looks like this:
Trying to pitch out of a jam… Rolled one short 160 call up to the 165 by doing a HUM Mar 160/165 Bull Call spread for $2 debit. Position looks like this now:
Closed HUM trade completely. This got away from me. 63% loss. (-$2001). Trade at close looked like this: