Where Do I Start? Season 2: Tom & Case - October 2, 2014 - Straddle Defense and Management

Summary: Case has the reigns today, and she wants to talk Straddle Defense and Management!Recapping her original trade in PBR, which was a neutral straddle, meaning they shorted the ATM Straddle. Additionally, Case explains the change in her delta following the testing pf her position. She mentions that to achieve a max profit, she would like to have a net delta position of 0. Her and Tom then go through step by step rolling straddles to reduce directional risk, to extend duration, and how to calculate target profit following these defensive and management tactics.