03/17 XLE Double Diagonal - Daily Update

Daily Update: XLE moved a bit over 1 st. deviation Today. Normally it wouldn't be a big deal, however, it is moving 1 st. deviation pretty much for the duration of the trade, approaching the top of the volatility cone, see dashboard.

As per TOS, there is 25% chance we'll hit the adjustment point Tomorrow. The entry orders are there.

Contingent Orders:
If XLE at or above 44.80:
a) Close PUT diagonal
b) Buy 3x 44/48 CALL Vertical spreads
c) Evaluate where to re-open PUT diagonal (not automatic, analyze risk profile)

If XLE at or bellow 32.65:
a) Close CALL diagonal
b) Buy 3x 33/28 PUT Vertical spread
c) Evaluate where to re-open CALL diagonal (not automatic, analyze risk profile)