OPENING: /CL APRIL 16TH 51/52 SHORT PUT VERTICAL

... for a 1.60 credit; scratch at 16.50 versus total setup value of 15.65 (i.e., currently up 16.50 - 15.65 = .85/$85).

Notes: A delta under hedge in the first expiry in which the at-the-money short straddle is paying greater than 10% of the underlying. Net delta leans short.