![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHz7i-Pt8HumM1fU7h6loehFSW0xpgC8fHJXVhdp3Vtnx3HAW4ZEmretsG38YEuLsWBXKJrWTGQeEjqNkb8htvqjvKlN6Q76BCIgawkPedhsUel1QyNaLa-m0Rye8rrSvwhIIlfnYw6y4/s400/tpx_summary_update.gif)
You can read the first blog: HERE.
The straddles were sold @ 3.90 originally. Here is the image of the old trades (click to enlarge): You can also the ale was 56 vol.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEigkye2e3Tnc4S-QVCikikTm4Vbb8wCB7Rp7EkQaUsng1wRsD-yc3MyxLr8WzeCvIouOjcMuyo3zOX1KyD899g6ZpjW6LXeVdrVx1g1WuJ_rDHvmBhZbmLLla_ZB_9vk43-Zx3f9XKBm0g/s400/tpx_trades.gif)
Now the fair value of the straddles is ~0.725 + 1.40 = 2.125. You can see the Options Tab snapshot below (click to enlarge): The gain so far is 100*3800*($3.90-$2.125) = $674,500.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjBhzIfNWL1Ca-ZGV6dYHY7CxvL0ihFSLvXocWpqN2gXShWloPqhfONEN5C2pP4gMqrvOLNsbQ7ilpIY8Yvmx-2lHagClK95DK51B565M7pyM9RKcvhFkzXXhs9m3SCofnWPry7hwY6soc/s400/tpx_options_update.gif)
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