Iam also looking for a short term pop in BSC since the sentiment is so negative. Could you please illustrate your synthetic straddle strategy?
But the money flow is negative so far.
attaching a P&F chart
It's identical to a natural straddle, long or short the same-strike call and put. I'm trading shares to leg the synthetic variant, but only if the spot-trade is profitable. I buy the strangle once the straddle is traded to effect a long butterfly.
Sold at an average 3.00 on the July 45s. Current bid of 3.60. Bad timing, as I sold half the position early in the day. Looking to bid the 30/60 wings.
I am short the July 145 straddle from ~13.00 all-in, current mark of 8.30.
