SOLD TO OPEN EWZ MAY 20TH 17.5/20.5/29.5/32.5 IRON CONDOR

Going to where the volatility is to sell premium, and that's in EWZ (implied vol rank >70/implied vol is >50). (Plus, I'm kinda ticked that I screwed up closing out that rolled EWZ setup without checking the trade chain ahead of time ... ).

In any event, here are the metrics for the setup:

Probability of Profit: 74%
Max Profit: $66/contract
Buying Power Effect: $234/contract

Notes: I'm continuing to go with small defined risk setups here. EWZ has been "hot" volatility wise, and I may want to layer on additional setups going forward in the instrument, dispersing risk over several expiries. I also want to keep powder dry for broad market premium selling plays and/or additional long volatility setups, depending on which way the market goes ... .
Comment: Out of the short put side at near worthless (bought it back for $3), leaving me with the short call side to deal with. Price is still about 1.20 short of my short strike, so I'm just going to ride it out and see what happens here.
Trade closed manually: And out of the call side for scratch on this down move. EWZ's been very good to me; no sense in spoiling it by holding out for a few more bucks ... .
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