Just to let you guys know, even though my Delta has been well above 10 for quite some time now, I haven't touched this thing. I figured, I am only about 20 points away from 1180, I'll just let this thing ride, as I have been in the black with this trade almost the whole time (despite all the roll-ups). It hasn't been a LOT of black, but it's been black nonetheless...
So, it seemed pointless to me to add a vertical to drop the Delta, although I really need to train myself to just do that AS SOON as my Delta goes past 10 (or drops under -10). The verticals tend to be much cheaper that way....
This Friday is my day to exit (20 DTE), but I suspect I may look to get out before the Fed Meeting announcement on Wednesday.
Although, as I think about it, if I am still near the upper end of my tent (as I am right now), perhaps the best thing to do is ride out the Fed. Because the way I see it, the market has already discounted a rate hike at this meeting, so really, the only big move from this market WOULD be a down move after the FED...what could the FED say that could possibly make this market rally hard? I think the direction of a big move based on the FED would likely be DOWN. In all likelihood, there probably won't be much of a move at all when all is said and done Wednesday....
Decisions decisions...
