Wednesday 18 May 2016

May 18 - Closing SLW straddle and getting deeper into MCD

I made a couple of small trades today.  I closed my SLW 18/19 strangle for $0.39 for a nice 59% gain relative to the initial credit.  SLW moved nicely between the strikes following the release of the FOMC meeting minutes.

Earlier in the day, I added three more short MCD June 125 puts.  I may turn this into a 3x1 ratio spread if things hover between $125 and $130 over the next few days by buying one June 130 put.  I'm memorializing my stubbornness with MCD as I keep adding +delta.  We'll see how this plays out.


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