3.5 Put for 0.305 ($3050)
4.25 Call for 0.111 ($1110)
The profit was $4160.
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2 comments:
Hey, what positions do you have right now? Believe it or not, I am still following NG and LB. Still a little timid to get in, but definitely watching. I'm trying to figure out how i can profit from the strategy.
I'm still holding both NG and LB.
As for NG, I'm long 3 futures outright while holding 1 July 5 Call and 1 July 4.5 Call. This is a very solid position because either I keep all the premium or it'll offset my long as a covered call. If they expire worthless, I'll throw another Aug call options to sell for any bounce. I also have a put option to scale in.
As for LB, call premiums are finally picking up. I'm holding only futures (no options yet). I'll start scaling out from 230-240 every 10 pt or so using both call options and simply exiting futures outright.
If I were you, I'd throw an order to sell NG 3.5 put. I recommend this because you seem to have a big account to withstand 10K swing, but I won't to anyone who has a small account. NG is usually lagging Crude, but once it moves, it goes further than Crude (more bang for your buck). Just do not over trade.
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