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June 21th - 14 trading days and 20 calendar days
yesterday was painful day. What ever I had already gained, I had to give back. Never a nice thing to do.
I have two graphs. The first is the position as it is, the second graph includes the adjustment I am considering. I am looking at moving 2 call spreads from the 790/840 to the 840/890. The benefit would be a reduction of my delta by approx 50%, while maintaining theta. Both positive, negative would be an increase in Vega and Gamma.
I haven't entered the adjustment yet, by pure objective trade rules (mostly size of delta) I am close or even a little passed that point. I decided to wait for today's open, expecting some weakness before the FOMC.
We will see how today develops.
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