I am betting the market will be ranging and we can get a quick win by next week. The trade is like an iron condor, but with 2x the Calls vs the puts taking advantage of the skew and giving us more space to the downside.
Our break evens are far away from the expected move at 5969.20 and 5648.1. This gives us a high chance of making money about 80% of the times.
The trade (double double):
6 DTE
+1 5630 Put
-1 5650 Put
-2 5970 Call
+2 5980 Call
Got filled for $2.13
Max profit is $213
Max loss is $1,787
That is a 80% probability to make 11% Return in 6 days.
Our break evens are far away from the expected move at 5969.20 and 5648.1. This gives us a high chance of making money about 80% of the times.
The trade (double double):
6 DTE
+1 5630 Put
-1 5650 Put
-2 5970 Call
+2 5980 Call
Got filled for $2.13
Max profit is $213
Max loss is $1,787
That is a 80% probability to make 11% Return in 6 days.
Trade closed: stop reached:
Forgot to update this one, this was a losing trade.
