NaughtyPines

OPENING: EWW AUGUST 21ST 32/33/35 BIG JL

Long
AMEX:EWW   iShares Inc iShares MSCI Mexico ETF
... for a 2.17 credit.

Notes: Relatively high rank/implied for an exchange-traded fund at 40 /38. This isn't quite a Big Jade Lizard, which usually consists of an at-the-money short straddle with a long call, but it's trading between the strikes, so opened it up to a skinny at 32/33. No upside risk, since the total credit receives exceeds the width of the short call vertical at 33/35 by .17. Will look to take profit at 25% max (.54).
Trade closed manually: I'm calling this "close enough." Closing here for 1.69/contract (22% max) with this up move to right between the short strikes. In for 2.17, out for 1.69, a .48 ($48)/contract winner.