UPDATE: June 16, 2017
 

When I was opening this trade I felt confident that this is a safe bet. Apparently not. Mr Market can be very challenging trying to take your money away. That’s why it is important to have a strategy for days when the market goes against you. And believe me, it will be most of the time!
 

As TECK continues down on lowered guidance, our July 7th 20.50 calls closed for 0.02 debit today (remember, after I open a strangle trade, I immediately place a closing GTC order, which executed automatically once the conditions are met).

Since our calls closed, I decided to roll the put side lower the same way as I did yesterday with June 30 trade. Here are all trades review:

 
BTC 1 TECK Jul7 20.50 call @ 0.02 debit
 

and here is the roll:

 
BTC 1 TECK Jul7 16.00 put
STO 1 TECK Jul7 15.50 put
STO 1 TECK Jul7 16.50 call
 

@ 0.12 credit limit day
 

After the old call closed I rolled the above put down a bit and added a new call creating a new strangle. I expect one leg will have to be rolled again later on (I will wait closer to expiration for the next roll).
 

ORIGINAL TRADE: June 8, 2017