BABA continued it's surge up to $155 and today I decided to go inverted in the AUG cycle and roll my Puts up to 155, despite earnings being scheduled for 8/10. Total credit received on this trade is now $14.36. I'm targeting one more roll to collect at least $5.64 to scratch the trade at $20 (the intrinsic value of my 135/155 inverted Strangle).
Rolled: five 18 AUG BABA 135 Straddles @$5.40
- Bought: five 18 AUG BABA 135 Puts @$0.65
- Sold: five 18 AUG BABA 155 Puts @$6.05
Total Commissions/Fees: $6.51
Balance: $48,113.16
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