Date: 4/3/23 12:00 pm
Underlying: Vaneck Oil Services ETF
Leave the 21 Apr/16 Jun 285 put calendar in place. This portion is making money and we will probably close this leg in a day or 2 for some profits. Overall, we still have a losing position but we can at least pull back some profits on the trade to lessen the blow.
OIH will be taken out of the ticker rotation for 5K for a while due to excessive volatility and the option prices not reflecting that volatility.
Sell/STC the OIH 6 Apr 245 put/14 Apr 245 puts for a credit of around 0.25-0.50 credit (work the order prices have been wide)
BTC 10x the 6-APR 245 puts
STC -10x the 14-APR 245 puts
Position after trade action:
-10 OIH 21-APR 285 put
+10 OIH 16-JUN 285 put