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TECK strangle trade

UPDATE: July 03, 2017 (TRADE CLOSED)
 

We closed our put side July 14th 16.00 puts for 0.08 debit.

This closes the trade for a total profit of 0.70 or $70 premium.

This represents the gain of 4.24% for the trade in 42 days or 36.87% annualized profit.

 

UPDATE: June 16, 2017
 

Our July14 TECK 20.00 calls closed for 0.05 debit. Still holding the 16.00 puts.

I am waiting a bit longer (about a week until expiration) and then attempt to roll the puts unless the stock recovers).
 

UPDATE: June 12, 2017
 

 

Show more...

 

I decided to roll my remaining put side and create a new strangle:
 

BTC 1 TECK June23 16.50 put
STO 1 TECK July14 16.00 put
STO 1 TECK July14 20.00 call
 
@ 0.30 credit limit day
 

The trade executed @ 0.33 credit (or $33 dollars).
 

UPDATE: June 02, 2017
 

This morning our call side of the strangle has closed:
 

BTC 1 TECK June23 21.00 call @ 0.05
 

We are still holding the put side and waiting if we have to roll or the trade closes later too.
 

UPDATE: May 22, 2017
 

This trade also executed today morning. We collected 0.55 or $55.00 dollars credit and now we are in the trade. Now we have to wait for it to develop. Ideally, we want the stock price to stay in between our short put and call strike until expiration (which is in June 23, 2017). In this case, both options legs will expire worthless.

However, we will not be waiting all the way until expiration.

We placed a buy back order for each option to buy back our puts and calls for 0.05 debit (which may happen well before expiration).

 
TECK For Monday morning, I am placing a new strangle trade using TECK (TECK) as underlying.

If the trade doesn’t execute on Monday morning, I may adjust the credit as needed to get executed.

This will be a longer term trade than what I typically trade (34 DTE) since I found it difficult to find a trade with a decent credit and shorter period of time.
 

Here is a trade detail:
 

STO 1 TECK Jun23 16.50 put
STO 1 TECK Jun23 21.00 call
@ 0.55 credit limit
 

TECK @ 18.69

 
TECK chart
 

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