Alert: Adjust OIH Boxcar Trade

Ticker: OIH
Price: $320.33
Date: 3/2/23 11:50 am
Underlying: Vaneck Oil Services ETF

Est. Net Credit: 1,350

Master Portfolio Contracts: 5

Notes: OIH Has popped back up this week. Our back ratio was working if the stock had kept falling, but now it’s hurting us. We are outside the profitable range, so we need to make an adjustment. We are selling back some short puts to remove the back ratio. This will bring in some cash and have no risk to the upside. Our goal at this point will be to close the trade as soon as we have a break-even or a small profit. This will add 5k of margin but I think it is worth it for one final adjustment.

Start with the highest credit and work your lower order to get filled.

Trade Detail:
STO 10-MAR 310 puts

Price: 2.70 – 3.00
Margin Required: $5000

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
-5 OIH 10 MAR 310 put