Adding Verticals to April Position

           Today, I switched back to OptionVue to conduct my trades on. Surprisingly, as I went into the BackTrader mode and put in the position as I had before, I saw very different Greeks and would have likely not put on the same position (the Delta value was around -17 which is too much negative Delta to start off a position). Noting this, I continued to simulate the position as I had over the past two weeks and I adjusted the position again.

           I made this adjustment because the market is currently sitting outside of my tent but the position has an overall Delta value of -75. Because the limit for the position outside of the tent is -50, I had to add verticals. I sold three calls at 1050 and bought three at 1030 in order to make the overall Delta -49. I did not want to add too much positive Delta because the market could always reverse and if it does so, not only would the negative Vega value hurt the position but the Delta would start to also. Currently, the Theta value is 98.9, the Vega value is -170.9 (with the addition of the verticals) and the Gamma value is -0.64 (also something to watch, especially as the trade approaches expiration).


Of course the risk profile graphs are also going to be from OptionVue also.