Followers, happy black Friday. Hope you are able to find all the sale items that will make your "Christmas portfolio" whole. Although the market opened on the lower side. Our Dec calls have hit a delta of 20. Sometimes moving as high as 21 when there is push into positive territory. To this end we will adjust our short call position to move back into a much comfortable range. We will create the following trade:
+50 C 770
-100 C 780
+50 C 790
This will invariably close out our -50 C 770 position and reestablish it at the C780 mark. Our final position should be
-50 C 780
+50 C 790
We will also push out our put side when we are sure that the market has stabilized. We will roll up half of our put position to the 660/650. We will make the following trade:
-25 Dec 660 P
+25 Dec 650 P
+25 Dec 610 P
-25 Dec 600 P
Guys, by making these adjustment, we have taken some of our profits off the table. However, we are in a much better position. We will roll the rest of the put postion up later. Find below the resulting overall trade:
-25 Dec 610 P
+25 Dec 600 P
-25 Dec 660 P
+25 Dec 650 P
-50 Dec 780 C
+50 Dec 790C
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