yes you have to trade these front month options quickly... *
That was always my problem in the past, seeing the -neg and not taking the +pos ...only to have it work if I had. Froze like a deer in the headlights or jumped back into the path of the oncoming car. I got sick of the losses and stopped doing them.
XLF straddle (paper) closed EOD. If it were up to me I would sell this now. Its open season on shorting financials so puts went through the roof. So the calls are near worthless. At least they cover the commission, lol! I almost doubled my money. 93% profit.
current position ---------------- 10Oct20c @0.08 XLFJT $ 80 + 17.49com 10Oct20p @6.20 XLFVT $6200 + 17.49com total value $6245.02
original position ---------------- buy 10Oct20c @2.30 XLFJT $2300 + 17.49com buy 10Oct20p @ .90 XLFVT $ 900 + 17.49com total cost $3234.98
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