Here, I'm looking to sell some premium at or around the 30 delta strike (this one's at the 25 delta).
Probability of Profit: 70%
Max Profit: $132/contract
Break Even: 23.68
Notes: The notion here is either to keep the premium received if price stays above $25 into expiration or roll the option down and out for additional credit if it doesn't. I'm not sure at this point that I want to be put VRX at 25 (lower, as always, is better, and I think 19-20 would be "swell", although we'll just have to see).
Probability of Profit: 70%
Max Profit: $132/contract
Break Even: 23.68
Notes: The notion here is either to keep the premium received if price stays above $25 into expiration or roll the option down and out for additional credit if it doesn't. I'm not sure at this point that I want to be put VRX at 25 (lower, as always, is better, and I think 19-20 would be "swell", although we'll just have to see).
Comment:
Resisting the urge here to pull the trigger on this one. Something better has got to come along ... please.