This OEX position consists of two BWB's at different strikes (565/560/550 & 560/555/545). It can also be thought of as an unbalanced condor by being long the 565/560 put spread and then short the 555/550 and 555/545 put spreads. This is a weekly position and both BWB's were initiated for $0.50 and $0.30 credits respectively. Here's hoping for some fireworks today with the Greek votes as this spread is likely to finish well out of the money.
This position again was originally 2 BWB's at different strikes (780/770/750 & 770/760/740). Since then I took some risk off by buying the 750/740 put spread for $0.65 debit. I have also bought the 835/845 call spread for July for $2.35 with the intention of spreading this off by selling an out of the money call spread eg. perhaps the 2 x 855/870 call spread for at least $1.25 such that I have a quasi unbalanced condor again and the call spread is totally financed by the short call spreads.
Again this OIH position began as a BWB. Since then I've spreaded that position off with an unbalanced condor. The strikes chosen coincide with previous swing highs at 155. This position is for July expiration.
The only other trade I have on are some VXX puts at the 24 strike for Sep expiration. This trade is working out nicely having bought them for $3.25 (now trading at $3.75).
Thoughts for this morning are that this gap will probably fill given the buy the rumour sell the news play is likely (institutions love doing this!)
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