IYR

IYR is possibly the ugliest theta trade I have on. Today was the first day I had a small profit. The chart looks very attractive in selling put spreads or buying ITM diagonal spreads, but I have on a long Vega double calendar. The last few days volatility levels have fallen and that has affected my profits because of my long Vega. I started this trade as a single calendar 30 strike call with May and June. I had to adjust this trade yesterday, in doing so I neutralize my deltas.