OPENING: XOP JUNE/FEB 23/28 UPWARD CALL DIAGONAL
... for a 3.86/contract debit.
Metrics:
Max Profit on Setup: $114/contract
Max Loss on Setup: $386/contract
Break Even: 26.86 vs. 26.75 spot
Debit Paid to Spread With Ratio: 77.2%
Delta: 30.39
Theta: 1.14
Notes: Somewhat dissatisfied with my OIH position (hey, I entered too early; it happens), adding some long petro with this, my preferred go-to. Will look for 50% max in profit ($57 or about 14.8% return on capital).
Metrics:
Max Profit on Setup: $114/contract
Max Loss on Setup: $386/contract
Break Even: 26.86 vs. 26.75 spot
Debit Paid to Spread With Ratio: 77.2%
Delta: 30.39
Theta: 1.14
Notes: Somewhat dissatisfied with my OIH position (hey, I entered too early; it happens), adding some long petro with this, my preferred go-to. Will look for 50% max in profit ($57 or about 14.8% return on capital).
Trade closed: target reached:
Closed at 4.43 (50% max)/.57 ($57) profit/contract; 14.8% ROC.