I have one question. The straddle I have has the puts and calls expiring in 2 days. Barring a big move in either direction, the straddle is basically a breakeven proposition, so the expiration date may not matter much. Is this how you play it?
Alright. So you're still retaining roughly... 65% of the investment into a bull run I assume. Tomorrow is as good of a guess as any after today's movement. No clear indication yet as to which way the overall market will go. I took the slightly small call "profit" on the midday correction and reset my own positioning to match my sentiment as such.
I still call it a profit because it leveraged my sentiment towards a correction once I felt I saw today's bottom.
Good luck on tomorrow. As always sell the trend, and prepare for a reversal. I hope this method works as well for you as it does for me.
The previous post had a terminology error. What I entered was a 'strangle'. My understanding is that happens when the call and put strikes on a saddle are the same. So a strangle is just a specific form of a straddle.
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