- Long (1) in the money March $115 call for under $1800 and sell (2) March $125 calls for $525 per. You would collect just over $1000 and pay $1800 so out of pocket premium is $800 plus three transaction costs. I see a grind higher so you may be able to offset on higher trade or hold until expiration as I do not see future sustainable above $125 considering current supply and demand. The trade has 41 days and currently has a favorable delta of 13%.?
- Long May futures and sell an out of the?money?May?call 1:1.?Selling?a $120?would?give?you just better than a?$2000?cushion. You should pick up?approximately?1/2 of the?underlying?move. 99 days until?expiration?and look for?an exit if futures were to rally 5-10 cents rally in the?coming?weeks.?Offset?both?legs?at the?same time.?
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