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Adjusting

Rolling Up the CCJ Puts

I am rolling the CCJ $8 puts up to the $9 strike as the share price of CCJ is on a bit of a tear. Rolling the puts up resulted in a collection of $.28. Additional large uranium mines are shutting production resulting in an increase in the price of…
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Adding to MGM

I am buying back the MGM Apr 20 Call for 0.30 on the severe share price drop and buying shares outright. The new position is MGM Apr -17 Put for 3.00 credit. MGM 100 @ 9.77. I will consider selling calls on a pop in share price or buying more…
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Converting MGM into a Strangle

I am selling calls into strength against my short put position in MGM. The stock rallied today and really took off when the US Administration spoke about providing support to the industry in light of COVID-19. I am not a supporter of corporate bailouts as they tend to reward bad…
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Adjusting the NOB Spread

Rolling out this spread to June expiry to buy some more time to be right. Position adjusted as follows: Original: Sold /ZB Mar 164′ 29 and bought 2 x /ZN Mar 131’24 Closed: Bought /ZB Mar 166′ 24 and sold 2 x /ZN Mar 132’21 Sold /ZB Jun 165′ 25…
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Rolling Out Natural Gas

Well the bottom fell out of natural gas so I will be holding onto it until it recovers. Therefore, I will roll my position from February to March. The good news is that natural gas is in backwardation resulting in a lowered cost basis. I am selling /NG Feb for…
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Adjusting the /ES Strangle

I am adjusting the /ES strangle. Usually I would roll up the puts to collect additional premium as the S&P rose, but this time I decided against doing so for two related reasons. Volatility is low so the credit that would have been received was not sufficient in my estimation…
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Turning APA Strangle into a Straddle

Apache Corporation’s shares have taken a beating since I put on the December strangle. I am rolling this position into a January straddle with a 22.5 strike. This move gives me more time to be right, additional credit of $1.02 and positive delta as I lean toward the price rebounding…
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Adding to NOB Spread

I am doubling up on this pairs trade as low volatility has offered scant opportunities elsewhere. Adjusted Cost Basis: Sold /ZB Mar 158′ 24 (corrected) and bought 2 x /ZN Mar 129′ 20 Added: Sold /ZB Mar 159′ 30 and bought 2 x /ZN Mar 129′ 255 New Adjusted Cost…
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Adjusting NOB Spread

Rolling out this spread to March expiry to buy some more time to be right. Position adjusted as follows: Original: Sold /ZB Dec 159′ 18 and bought 2 x /ZN Dec 129′ 18 Closed: Bought /ZB Dec 159′ 28 and sold 2 x /ZN Dec 129′ 145 Sold /ZB Mar…
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Rolling Bond Straddle

I decided to roll the November Bond straddle to December in order to collect additional premium and to buy some more time to be right. The new strike is 159. An additional credit of 1′ 8/64 was collected. So I bought back the original position and sold the following: Sold…
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