Over the past few days, I have made a series of adjustments to my August position. All of the adjustments I have made were as a result of too much negative Delta. On July 27, July 28, and August 1, I added the vertical 1170/1200 to reduce the negative Delta value of the position (they were at -61, -67, and -60 respectively). The market had been outside of the tent for all of these adjustments. I decided to take the position off yesterday, August 2 with a profit of $1,018. With only 16 days left until expiration, I thought that I should take the profit -which has not been over $1,000 for the position- while I could.
The final risk profile graph of the August 2016 position can be seen below:
The September position is currently at a $479 profit and no adjustments have been needed for this position over the past few days. The September position still has 44 days until expiration.
This is what the September position's current risk profile graph looks like:
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