With the slight downwards move today, I have decided to take out my April position. This trade had many adjustments over the past few months and has been down many times. With only eleven days left for expiration, I was able to remove the position with a profit of $1,570. If this was the position at 30 days until expiration, I would have probably adjusted the position instead of cashing out but at this point in the trade, the Gamma started accumulating and even a slight shift of the market could throw the whole position off. The Greeks Theta and Vega are well in the limit (even flourishing if you will) but the Delta value currently is -170 and cannot be easily corrected by verticals. I look forward to continuing to post about the May position and the starting of the June position will be soon. The Greek's of the May position are well under the limit and no adjustments are needed at this time.
Below is the final risk profile graph of the April position:
If you have questions or suggestions please comment!
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