Price jumped up at the open and I sold 2 contracts of the 6690/6700 call credit spreads for $0.70 each at the top. The strikes are way above the positive gamma MVC. Which was pointing at 6655. I’m looking to close at $0.05 or $0.10 depending on where price is after 8:30 AM PST. If price is past the positive gamma MVC (6655), Then I’ll look to close at 50%.
Update: 8:21 AM PST – Price dropped and I was able to close everything for $0.05. Easy day to make up a bit from yesterday’s loss. Will be looking for a bottom.