Friday, April 27, 2018

Follow-up to yesterday's post - completion of trade

Collar closed without completing the put side; calls sold and then shares bought to cover as such:

April 27th: Quantity 17 of April 27th UVXY 114.50 calls sold for 0.75, or debit $1,261.20.
1,700 UVXY bought to cover at 15.015, credit $25,530.45.

Grand total for the trade: -$277

Note that original risk was $1,356.70, reduced sequentially to $659.70. Calls were closed earlier than shares on expiration day to maximize recovery of the shares without degradation of option prices counteracting that recovery, in order to seek final outcome better than the max loss of $659.70 if options had been exercised.

See detail:


See new tab at top "COMPLETED COLLAR (or other spread) HISTORY" for ongoing summaries of collars without detail and narration.

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