TRADE IDEA: EWW DEC 2ND 43.5/46.5/53.5/56.5 IRON CONDOR

With a 52-week implied volatility rank of 100 and an implied volatility of 35, EWW -- the Mexican ETF , beckons for premium selling ... . Here, the iron condor brackets the ZigZag/Donchian channel indicated support/resistance at 48.22 and 54.25 nicely, with break evens for the setup above and below those marks.

Here are the metrics for the setup:

Probability of Profit: Unavailable*
Max Profit: $100/contract
Max Loss: $200/contract
Break Evens: 45.50/54.50

Notes: * -- Accurate probability of profit metrics are unavailable here in the off hours, probably due to after hours bid/ask in the underlying showing bid 44.12/ask 73.00/last 49.98. Look to manage at 50% max profit.
Comment: As usual, this setup was far sexier in the off hours. When I woke up sober this morning, "she confronted me with a wide bid/ask" (i.e., I couldn't get near the "credit" quoted in the off hours ... ), so no fill.
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