Replies to post #29 on Options for Dummies

[WinLoseOrDraw]

And in again at 38.80.

 
  +1    QQQQ Sep 40C @ -0.50 
  +1    QQQQ Sep 39P @ -0.50 
 +10    QQQQ @ 38.80 
  
  +0.06 in the hedge kitty 
 

After the weekend, enough theta should have burned that the entry point can be adjusted. Because the delta curves get steeper the closer expiry gets, the effect is to pull the entry points closer to the mid-point of the spread.

[Bernard Ng]

Hi WLD, where is a good place to find out the delta of the options?

How did you come up with the number of shares of QQQQ to hedge the strangle?

Thanks for running the demonstration.