Scratching the Adobe Iron Fly

This trade went bad from the beginning and it took some patience to be able to scratch it (seven adjustments since October). I let this April position head towards expiry instead of rolling it for a small credit as it looked like ADBE was being pinned at $500 which was the perfect price to close out this iron fly.

  • Bought ADBE 04/16/21 Put 500.00 @ 5.27
    Filled at: Apr 9, 2021 12:37:32 PM EDT
  • Bought ADBE 04/16/21 Call 500.00 @ 6.76
    Filled at: Apr 9, 2021 12:37:32 PM EDT
  • Sold ADBE 04/16/21 Put 480.00 @ 1.02
    Filled at: Apr 9, 2021 12:37:32 PM EDT
  • Sold ADBE 04/16/21 Call 520.00 @ 0.97
    Filled at: Apr 9, 2021 12:37:32 PM EDT

I closed the position for a debit of 10.04 which was the sum of credits received.

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