No trades today.MS closed the day at $16.09. Implied volatility at 148%.
Option positions unrealized PnL is +$4,991.
Thinking of liquidating all and lock-in the above profit immediately instead of waiting till expiry Friday 21-Nov to keep the full $8,340 (probability around 75%). As a seller, time and volatility decay advantage is on our side. Overall probability of losing money on this ladder of four option steps is less than 5%. Will be travelling on business trip from 10-Nov to 16-Nov and will be left with one week before expiry. Concern that no time to monitor and to place "guarding" auto trades. Likely will liquidate early and close out some or all positions soon.
Total target profit is $8,340 by option expiry Fri 21-Nov
To win full $8,340 by then, MS must stay at the fol. levels or above :-
10x MS-Nov-12.50-PUT ==> 12.50 - 1.65 = $11.85 (target profit $1,650)
10x MS-Nov-10.00-PUT ==> 10.00 - 1.10 = $8.90 (target profit $1,100)
30x MS-Nov-7.50-PUT ==> 7.50 - 0.81 = $6.69 (target profit $2,430)
20x MS-Nov-5.00-PUT ==> 5.00 - 1.58 = $3.42 (target profit $3,160)
Remarks :-
Dow gone up at market open. Market generally on up trend today against what I thought which is down. The Fed cut interest yesterday from 1.5% to 1.0% did improve the market sentiment.
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