Shorting WTI straddles fetch certain yields; best suitable for current range-bound trend
As stated in our previous post also the range bounded trend for this commodity remains intact.We don't think prices to act drastically and evidence huge gap. The price band for this commodity is to remain within 56 on so…
As stated in our previous post also the range bounded trend for this commodity remains intact.
We don't think prices to act drastically and evidence huge gap. The price band for this commodity is to remain within 56 on south 65 on north.
Hence, we would like to recommend shorting At-The-Money WTI oil straddles at current spot levels (both call & put strikes at 60.25 levels) as we see technical oscillators like RSI, slow stochastic are not so confidently signaling strength in upward momentum even though the short term trend is uptrend.
Option writers are advised to have delta value somewhere close to zero on both call & put writings.
Buy At-The-Money WTI calls (strikes around 60) & puts (strikes around 60) simultaneously where combined delta has to be closer to zero, NPV should not be more than 14%.
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