The last few months have been a real wrestling match for Delta neutral trading, and this month is no exception. I feel like there is some hope, however, if we get the somewhat predictable rally by the end of this week. The chart you see today is the P&L graph reflecting the entire campaign for this month, including the two adjustment trades we made in earlier weeks.
As you can see, the "Live" line indicates that we are down about $192, most of which happened today with the move down. The other line shows my ideal situation. If we can get a little rally by the end of the week to around the spot depicted by the white arrow, we will be able to take the trade off with a nice profit of about 8%. Given the two adjustments, this is a great outcome.
On the downside however, I will have to evaluate my options if we reach $550, my next adjustment point. I'm prepared either way, but would obviously prefer the former option.
Good Trading...
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