I am changing the strikes on the crude oil strangle to convert it into a $35 straddle. Rolling up the put and rolling down the call collects an additional $1.51 of credit. I will likely roll the straddle to August to add to the credit if we get a spike in crude oil volatility (OVX) or if the position moves closer to expiry without a drop in volatility. The new position is
Sold /CL Jul 35P/35C straddle for a $5.44 credit.