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Squawk / 25 August 2016 at 9:28 GMT
I did trade today and here is the justification. As explained in the previous post, we were bearish and would trade if spot goes below 6800. That did happen this morning, so we bought back the 6750 PUT and sold lower at 6700. To reduce the risk of this new spread, we sold 6900 dec call and bought lower at 6850.

Now, our trick is always to ensure deltas of sold options are between 0.25 and 0.35. The delta of 6950 call dropped below 0.25, so we closed that and sold lower at 6900.

Neat isnt' it!

Past few days, I also pondered about cash lying in out trading account and margins used. We had never crossed 50% of the margin, so thought of putting the idle cash to some use. We bought iShares Core £ corporate etfs, so that its value can also be used as a collateral. So now 50% of our idle cash is now invested bond etfs!


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