OPENING: EWW DEC 16TH 39/45/45/50 IRON FLY
Post-election, there isn't much out there exchange-traded fund wise with both high implied volatility rank/percentile and high implied volatility. This is one of them ... . (I've tried repeatedly to get into an EWW play, but just can't seem to get a fill at the mid price).
This isn't the most liquid thing in the world, so I'm going with the most liquid expiry -- the Dec 16th monthly.
Metrics:
Probability of Profit: 43%
Max Profit: $302/contract
Max Loss/Buying Power Effect: $298/contract
Break Evens: 41.98/48.02
Notes: Will look to manage for 25% max profit ... .
This isn't the most liquid thing in the world, so I'm going with the most liquid expiry -- the Dec 16th monthly.
Metrics:
Probability of Profit: 43%
Max Profit: $302/contract
Max Loss/Buying Power Effect: $298/contract
Break Evens: 41.98/48.02
Notes: Will look to manage for 25% max profit ... .
Comment:
One pennied it; filled at 3.01 ($301)/contract.
Trade closed manually:
Covering here a bit short of 25% max profit for a 2.36 db. Net profit: $60/contract, after fees/comms.