I put this up in the X / Twitter stream a few minutes ago, but figured I better put a post up on it.
So we raised some premium by selling that distant UBER calls spread. Uber thereafter rallied by quite a bit this morning. Which, as I mentioned on X, I decided to defend the position. So I closed it down, and considering the premium raised, and exit? I lost about 0.41 per spread. For the GTC Portfolio, that’s one spread.
As soon as I saw the market pause at the high of the day, for the GTC Portfolio, it would be selling 2 UBER Jan 26 … 68/70 14 DTE Call Spreads for 0.22 each. The IVR had risen to 37.0 with a VIX of 12.76 and the 68 Call had a PoT of 41%, with the Δ of that call at 0.23 and an Expected Range ( ( 2σ / ImplVol ) / τ(2) ) of $67.50. 14 DTE. If I have to defend it a third time, I might be able to take advantage of the expanded vol, and push it out in time. We’ll see.
I still have my eye on OIl for a possible play, but it hasn’t moved to a place I’d like to place a trade, so we are still stalking it, and keeping an eye on the other positions.
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