Updated
TRADE IDEA: RUT/IUX 1075/1085/1190/1200 IRON CONDOR
Staying with short duration index setups here, so that I can be flexible if any non index premium selling opportunities come along; going with RUT over SPX due to RUT's higher implied volatility ... . (As a smaller, alternative trade, you can look at a similar setup in IWM).
Metrics:
Probability of Profit: 62%
P50: 71%
Max Profit: $340/contract
Max Loss/Buying Power Effect: $660
Delta: -3.51/contract
Theta: 12.26/day/contract
Notes: Naturally, I'm looking at pricing in the off hours, so it may be necessary to tweak the setup a bit in terms of strikes and/or fill price on NY open. I'll look to manage this setup aggressively and take it off at 50% max.
Metrics:
Probability of Profit: 62%
P50: 71%
Max Profit: $340/contract
Max Loss/Buying Power Effect: $660
Delta: -3.51/contract
Theta: 12.26/day/contract
Notes: Naturally, I'm looking at pricing in the off hours, so it may be necessary to tweak the setup a bit in terms of strikes and/or fill price on NY open. I'll look to manage this setup aggressively and take it off at 50% max.
Note
Actually got this filled for a $345 credit, slightly above the mid, at open.Trade closed manually
Closing this out for $288/contract debit in advance of Brexit, yielding a net profit of $57/contract.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.