As of Today, if we go to 90.68 Tomorrow it will be down -15%, however, I am not automatically closing 1x CALL spread. The reason is the CALL insurance is still providing support to the trade, and at 90.68 Tomorrow my delta will still be pretty much flat. So if I go in and close the CALL spread, I get into a very directional position.. See two profiles for comparisson.
I can and will use the insurance to my advantage and buy some time for the market to either calm down or to continue cruising up.
Contingent Orders:
1) Close PUT spread if at or bellow 64.7
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