Trend Bullish
P above vwap yearly
Maket profile shiftig higher
POC shifting higher: Now the 15 most institutions and institutional traders, that control more than 75% of the makets( Market makers show their cards:Thier footprint is POC, a phenomenon they cannot hide, but shows exactly what they are thinking, where they buy or sell, and a forecast where they will...
With 3 DTE in this post-Brexit troubled setup, I'm covering the put side for near worthless (for a .10/$10 debit).
I have proceeded to roll out the short call side "as is" to the September monthly expiry (for a 2.18 ($218)/contract debit), but decided to wait a bit to sell a short put side against for a credit that exceeds the cost of the roll to see if we get...
Rolling up the put side yet again (I've basically rolled the thing into an "iron butterfly" (filled for a .90 credit ($90)) to defend the call side.
I generally don't like to "invert" condors (here, roll the put side beyond the call side), so I'll probably just leave the setup alone running into expiry, but keep an eye on the setup's net delta and make a decision...
... for a $137 credit to defend my breached call side.
This thing is starting to morph into an "iron fly" ... . I will naturally need price to move significantly back toward my call side strikes before expiry to not have to roll the call side out for duration/strike improvement. Nature of the beast ....
Metrics:
Probability of Profit: 63%
P50: 74%
Max Profit: $830/contract
Max Loss/Buying Power Effect: $1670/contract
Theta: $16/contract
Delta: -1.69/contract
Notes: $820/contract was the mid price pre-market; as usual with these large instruments, you have to do a little "price discovery." Will look to take it off at 50% max ... .
A little engagement trade here to keep me occupied in this sideways market ... .
Filled for a 7.05 credit ($705/contract). I'll look to take it off at something like 25% max profit or at about $176/contract.
Another thing I'm going to do while waiting for volatility to return in the broader markets such that it makes sense to set up plays 45 days out is go short duration. While I'm not going to put this particular trade on because I have a short duration RUT/IUX iron condor that I rolled out to next week standing in as this week's short duration play (see Post...
