It’s time to sell this straddle.  I recommended the trade as a hedge against the election which Wall Street has surprisingly handled fairly well.  Because of the relatively low volatility in the market after the election and the slow and steady move to the upside, the large move required to make the trade profitable has not materialized.  Furthermore, these options are starting to feel the pressure of time and will start to lose value fairly quickly over the next few weeks.  So, it’s time to sell.

SPY December 210 Straddle

Sell to Close SPY December 16, 2016 210 Call Option.

Sell to Close SPY December 16, 2016 210 Put Option.