Posted on June 19, 2020
A quick one to take care of several initiatives that require a rollout.
We start with –
The short WING 120 CALL is ever so slightly in the money and trades for $2.10. Buy it back and sell the WING July 17th 130 CALL for $1.65. Together with the $0.80 on the KO CALLs that we pulled in here, our new credit is $0.35.
Here, too, our short VXX 36 CALL is a hair ITM, trading for $1.51, while the long 41 CALL is fetching $0.24.
Close out the spread by buying back the first and selling the second, and you incur a debit of $1.27 to add to your existing -$0.03.
Then sell the VXX July 2nd 47 CALL for $1.47 to cover it.
New credit on the trade is $0.17
The short 13 PUT is now ITM, so we’re rolling it out.
Buy it back for $2.47 and sell the July 2nd 11 PUT for 0.76. On expiry, that will put us in a credit position of $0.08.
[We were already in a credit position of $1.79 on the trade. See here for details.]
Our expiring SHOP 390 CALL should be repurchased for $476 and three (3) SHOP November 20th 820 CALLs should be sold for $159 each. That should leave us with a dollar credit on expiration directly after the November elections.
If they happen…
Alan B. Harvard