When I saw the market being up earlier today I was thinking that something was not right but fortunately (for me) my assumption was correct and the market did close down for the day.
Nevertheless, as the market moves are often random, it's best to play both sides and be prepared for moves that do not make sense.
That's exactly what I did with many of my rolls today.
So what's my trade for the day?
#MOS (#Mosaic) The stock has been moving sideways for a few months so hopefully the trend will continue for a few more weeks as I sold a wide strangle.
The stats
Trade Type: Short Strangle
Strike: $45 / 65
Expiry: 16 Dec
Delta: 4
IV Rank: 37.6
Premium: $1.13
Cap Req: $532
Annualised Prof at Expiry: 242%
IMPORTANT: Studying previous trades provide the opportunity to everyone to learn a great deal so I encourage you to click on the links below and digest the info.
Closed:
https://www.tycoonitos.com/community/market-comments/market-comments-20221026
Rolled:
https://www.tycoonitos.com/community/market-comments/market-comments-20220613
https://www.tycoonitos.com/community/market-comments/market-comments-20221110
https://www.tycoonitos.com/community/market-comments/market-comments-20220421
https://www.tycoonitos.com/community/market-comments/market-comments-20220520
Let me know what you think.
Nice winner!
Closed at $0.43 for an annualised profit of 100%.
Closed my call position at $0.15 and left my put running.
Total credit: $0.98.