New Trades and Order today: 07 March 2019
Closing purchase Trade today: I bought back the Gold JUN19 1550 CALL 0.20 (shorted at 1.10 minus .20 = $90 profit.)
Enter GTC today: GTC to make closing purchased on the Crude Oil JUN19 75 call @ 0.04
New Trade Today: I sold the Gold AUG19 1500-strike CALL for 2.0 ($200): Since I am already short the Gold 1200-strike PUT (different class: JUN19), I did not have to put up any additional margin money – as these two trades are a short strangle.
FYI: Selling a short strangle with each leg in a different CLASS could be called a “diagonal short strangle” (but this is not important. Just keep in mind the PUT and CALL do not expire at the same time and that’s ok.)
Summary of My Positions:
Today’s Trade: Short JUN19 Gold 1500-strike CALL for 2.0 ($200)
Short SEP19 Crude Oil 80-strike CALL for 0.17
Short SEP19 Crude Oil 35-strike PUT for 0.09 (total of 0.26 = $260)
Short JUN19 Crude Oil 75CALL for 0.11
Short JUN19 Crude Oil 45PUT for 0.24 (total of 0.35 = $350)
Short the JUN19 Gold 1200-strike PUT for 1.40 ($140)
Short the JUL19 Corn 360-strike PUT at 3.125 ($156.25)
Note: I always use examples with a quantity of 1 (one) option per trade. This is not because I only trade one of each option, it is to keep the illustrations simple and easy to understand in the newsletter. Please remember the strategies of the trades I post here are risky, and not suitable for all traders. Posts here are for educational purposes only.
Here’s the chart on the 1500 CALL Gold AUG19:
That is all today. Thank you. – Don
My email is Don@WriteThisDown.com
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