NaughtyPines

TRADE IDEA: EWZ MAY 19TH 32/37/37/41 DYNAMIC IRON FLY

AMEX:EWZ   ISHARES INC MSCI BRAZIL ETF
With a six-month implied volatility percentile of 76 and a background implied volatility of 37, throwing a touch of "Brazilian" on here ... .

Metrics:

Max Profit: $247/contract
Max Loss: $253/contract
Break Evens: 34.53/39.47
Theta: 1.77
Delta: -.29

Notes: Will look to manage this at 25% max ... .
Order cancelled: Totally overlooked the fact that the market is closed tomorrow (Friday). Weird stuff can happen over these three-day'ers, so will look at possibly doing this next week if the vol's still there.
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