OPENING: BA AUGUST 21ST 140/150/205/215 IRON CONDOR
... for a 2.74/contract credit.
Notes: Earnings announcement volatility contraction play with 30-day implied at 70.9%. Will look to take profit and/or manage on side approaching worthless/break even test ... .
For those wanting to play naked, the August 21st 150/205 short strangle was paying 7.03 as of the writing of this post.
Notes: Earnings announcement volatility contraction play with 30-day implied at 70.9%. Will look to take profit and/or manage on side approaching worthless/break even test ... .
For those wanting to play naked, the August 21st 150/205 short strangle was paying 7.03 as of the writing of this post.
Trade closed manually:
Out here for 1.86 with 18 days to go; in for 2.74, out for 1.86, .88 ($88) profit/contract.