Ticker: XOP
Price: $128.05
Date: 2/22/23 11:15 am
Underlying: SPDR Oil & Gas Exploration ETF

Est. Net Debit: $4800

Master Portfolio Contracts: 10

Notes: We are adjusting our existing position by adding a new diagonal trade to help cover some of the downward move we’ve seen the last couple of days.

Trade Detail:

TRADE ACTION 1:
BTO 21-APR 125 put
STO 3-MAR 125 put
Price: 4.50 – 4.80

Position After Trade Action:
+10 XOP 21-APR 139 call
-10 XOP 3-MAR 139 call

+10 XOP 21-APR 125 put
-10 XOP 3-MAR 125 put