Alert: Adjust OIH Boxcar Trade

Ticker: OIH
Price: $295.94
Date: 2/22/23 10:50 am
Underlying: Vaneck Oil Services ETF

Est. Net Debit: $7850 

Master Portfolio Contracts: 5

Notes: OIH fell quickly, so we’re going to create a back ratio spread to repair this trade.  We do that by closing half the number of short puts.  That will give us unlimited range to the downside.  

Trade Detail:

BTC 5 of the 10 MAR 305 puts
Price: 15.70

Updated Position After Trade Action:
+10 OIH 10 MAR 290 put
-5 OIH 10 MAR 305 put
-10 OIH 10 MAR 317.5 put
+10 OIH 10 MAR 320 put