NaughtyPines

OPENING: XOP MARCH 20TH 21 SHORT PUT

AMEX:XOP   SPDR S&P Oil & Gas Explor & Product
... for a .36 credit.

Notes: A delta hedge against my XOP position in the first expiry that pays greater than 10% of the value of the stock. Delta/theta -4.94/3.22, with 3.19 extrinsic and setup value of 10.19 versus 8.64 scratch.
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