donnapland

Pretty much stuck here - but I expected that with MBLY. Very challenging market - but I knew that going in - and I'm trading it for that reason. These kinds of trades remind me why I don't trade illiquids.

Trade management has to be flexible, opportunistic, creative. We'll see if I can get out or just muck things up.

 

Buy 4 Oct monthly 50P @ 3.20 Buy 100s at 49.75

 

Been

Yeah right, "challenging." Been working that order off and on since yesterday AM. I liked the MBLY trade for about a day and soon came to hate it.

So lining up the sides.

Long 3 Sep 26 47C @ 2.35 and 100s @ 49.75

Short 4 Oct monthly 50C @ 3.00 and + 4 Oct monthly 50P at 3.20

Assuming the 47s assign, long 400s @ 49.45 short the forward at 49.80 or a gross profit of 140. Was closer to 200 yesterday. Bah.

Mostly done, maybe, if so, adios MBLY. Just watch for pin risk at 50 near expiry.

 

Well, sold 3 Sep 47P @ .25 bringing gross profit to 215. That nails it shut - just watch for pin risk at both expiries.

 

So, with exercise of the 47Cs, this will turn into a conversion.

+400s, -4 Oct. 50C, +4 Oct. 50Ps monthlies.

 

Sell 2 ES Oct17 1870P @ 17.25

 

Going out. Orders out. It's the old down, then up, then down;-)

 

Fill on the 1890P at 22.50 at 6:39:57 Pacific time

 

This bodes well. Too bad it's not RTH. Gotta make dinner then sit down to add to trade, if possible.

 

Sell the Oct. 17 1850P for 11.25