... for a 3.60 credit. Comments: High IV/IVR (115.3%/36.3%). Looking for this to "behave" between the 11.40 and 18.60 break evens for a few weeks ... . Metrics: Max Profit: 3.60 ($360)/contract Profit at 25% Max: .90 ($90) Buying Power Effect: 3.40 ($340)/contract ROC as a Function of Buying Power Effect at 25% Max: 26.5% Break Evens: 11.40/18.60 Delta/Theta:...
... for a 3.63 debit. Comments: In for 4.84 (See Post Below), out of the short straddle aspect and the long call for 3.63 today, a 1.21 ($121) profit. The 18 long put was no bid, but I've entered an order to close it if someone will take it off of my hands for .05. Otherwise, I'll just let it expire worthless.
... for a 4.84 credit. Comments: With a 30-day implied at 66.5%, selling premium in the uranium ETF with an iron fly, which sets up break evens around the expected move -- 23.16 on the put side, 32.84 on the call. Will look to take profit at 25% max.
... for a 1.86 credit. Comments: Betting that the underlying chops around here between the break evens at 21.14 and 24.86. Because this is akin to a short straddle, will look to take profit at 25% max.
... for a 2.49 credit. Metrics: Max Profit: $249/contract Max Loss: $251/contract Break Evens: 14.51/19.49 Delta/Theta (Currently): -8.91/3.12 Notes: Couldn't post this yesterday due to the number of "Update" posts I did ... . High implied at 87.5% with earnings to be announced today after the close. A classic risk one to make one iron fly which I'll look to...
... for a 2.44/contract credit. Notes: With price trading in between the 32 and 33 strikes, went skinny short strangle in lieu of short straddle. Since it's almost a straddle, I'll look to take profit at 25% max. I've gone ahead and shown defined risk wings for an iron fly/skinny iron condor setup on the chart -- the September 18th 28/32/33/37, which was paying...
... for a 5.96 credit. Notes: A risk one to make one stays-within-the-expected move setup betting that treasuries don't move a ton in the next 59 days or so. Since it's "almost a straddle," will look to take profit at 25% max.
... for a 1.51 credit (.38 at 25% max). Notes: 5 out of XLF's top 10 holdings announce next week, so this is a way to get a piece of that volatility without getting into single name, with a classic risk one to make one iron fly setup. I've split the shorties across current price, but would look to take profit at 25% max, as you would with a short straddle/iron...
... for a 10.30 debit. Notes: Ohhh, that's going to leave a mark. Taking a loss In the January cycle by closing this out, but scratch is still at 14.80, so will hopefully work the remainder into profit.
IV is really high on COO this could be a good play. 290/310/310/330 0.13/0.42/0.5795/0.25 Exp Jan 17 Max gain is 25% of max credit $14.62 was my credit. My exit is GTC order for $11 max gain is $3.62 Max loss will be $362 if I lose completely. Win% odds are around 62% from the wings delta's
Iron fly on GLD 134/139/139/144 EXP Jan 17 0.17/0.47/0.52/0.144 Credit collected was $296. Max loss is 204. Looking to profit $75, order set to take profit at the 25% point.
Buy: 11/22 33p for .49 Sell: 11/22 37p for 1.61 Sell: 11/22 37c for 1.80 Buy: 11/22 41c for .40 Net Credit: $2.52 (Max profit if pinned at $37) BP Reduction: $1.48 As seen on the chart, was able to cash in on an Iron Condor last earnings cycle in a similar range. Going to give myself a little more time to be right and look to pin $37 in the next 30 days. Not...
Iron Fly I got a bad credit on it I should have tried for more, $7.20 credit and 280 max loss. 118/128/128/138 Dec 6th.. So the plan is to take a profit of at least 25% of the credit. Which is $180. Max loss is also $180. Delta's on the wings were pretty good around 0.25-.26 so this should be a decent trade and PXD doesn't move all that much after earnings.
I haven't done a neutral strategy in awhile so lets go ahead and give this a shot, 180/190/190/200 Iron Fly, Credit collected was $800 max loss is $200. Max gain is $200 while max loss is $100 I plan to take a profit after 2-3 weeks if the position goes in my favor. Otherwise I'll leave the position and tax a loss at my target if it doesn't pan out. If the...
$FIT Iron Fly Buy: 11/22 3p for .13 Sell: 11/22 4p for .55 Sell: 11/22 4c for .44 Buy: 11/22 5c for .19 Net Credit: $0.67 (Max profit if pinned at $4) BP Reduction: $0.33
Hitting this one again. Worked out well last month. Only widening the strikes a bit to give more room and also increase max profit. This does add risk to the trade however, but with a greater probability of profit. $X Iron Fly Buy: 11/22 8p for .14 Sell: 11/22 11p for 1.08 Sell: 11/22 11c for .64 Buy: 11/22 14c for .07 Net Credit: $1.51 (Max profit if pinned...
$X Iron Fly Buy: 10/18 13c for .10 Sell: 10/18 11c for .63 Sell: 10/18 11p for .66 Buy: 10/18 9p for .11 Net Credit: $1.08 (Max Profit if pinned @ $11) BP Reduction: $0.92 (Max Loss) Profit Range of $9.92 - $12.08
$SMH is currently short-term overbought as the ETF has risen from about 98 to above 116 before shedding gains. Because of it's short-term overbought status, it might look like a good short opportunity. However, I think it $SMH might lurk between 110 and 116 as the overall market digests Trade War news and the now questionable expected rate-CUT from the Fed in...