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Shortstrangle

Closing (Margin): /MCL February 15th 68/93 Short Strangle... for a .98 debit. Comments: Although I've still got 30 days to go with this, taking it off in small profit without affecting net delta much (the 68 was at the +11 delta, the 93 at the -10), leaving me with the fairly narrow 74.5/84 to manage in the Feb cycle, along with a far out-of-the-money short put at the 67. I'll leave that short put on here since I still need its long delta at the moment. Collected a total of 1.24 in credits for the 68/93, so closing out here for .98 results in a .26 ($26) profit. I generally like to wait for at least .50 ($50) to take these off, but am already up decently on my /MCL trades for the month, so feel okay with taking small profit here, simplifying the position, and freeing up the buying power to get ready to move into the next cycle.
NYMEX:MCL1!
by NaughtyPines
Opening (Margin): /MES February 28th 3720/4210 Short Strangle... for a 68.75 credit. Comments: An additive delta adjustment trade. (68.75/20) = 3.4375 ($343.75) credit. My original thought process was to just leave what I had on mostly alone running into CPI, but didn't like how the position had skewed out short, so am adjusting it here to net delta flat. I actually intended to open this in the February 17th contract, but am going to go ahead and leave it alone here. All this means is that I'll have to leg out of the sides one at a time versus closing the short strangle as a unit due to the fact that two corresponding legs will potentially be in different expiries.
CME_MINI:MES1!
by NaughtyPines
Closing (Margin): /MCL February 15th 63/94 Short Strangle... for a 1.12 debit. Comments: Pairing profitable short put with profitable short call ... . I sold the 94 short call for .79 and the 63 short put for .80 as part of short strangles I put on at different times, for a total of 1.59. Closing out here for 1.12 result in a .47 ($47) realized gain. Still in the February 15th 66/91 for a 2.02 credit and the March 16th 55/103 for a .92 credit with the entire position leaning slightly long delta at the moment.
NYMEX:MCL1!
by NaughtyPines
Closing (Margin): /MES February 3540/4160 Short Strangle... for a 38.75 debit.* Comments: Mixing and matching profitable short call with profitable short put for a small realized gain ($35.00), leaving me with the 3590/4120, which I'll probably proceed to do an additive delta balance setup on here. * -- The credit and debit amounts take some getting used to. For example, a short strangle that routes for a 50.00 credit actually has a max of only 2.50 ($250) (i.e., 1/20th of what the table says you'll receive in credit).
CME_MINI:MES1!
by NaughtyPines