Near the money Strangle on Euro Stocks (FEZ ETF)

We have the French election coming up and other than my trades on FXE I didn't have much on play for that.

The IV Rank on FEZ is pretty high at 77 and I am selling the strangle with 30 days to go. After the first part of the election we might get a decent volatility . I am betting that Euro companies won't be impacted as much and I can get paid on the expensive premium.

Sold the 35/36 Strangle for $2.03 per contract.
55% probability of profit.
Trade active: Being tested to the upside, I rolled up and out to get more credit and buy more time to be right. Rolled the Put side and we are now inverted with the 36 Call and 37 Put and added .65 cents per contract.
Trade active: We are down on this trade and FEZ continues to rally up before the election. IVR is still high at 47 and since my position is small and still have most of my capital in cash I decided to add another trade on top to move my break even up.

I added a Big lizzard (No risk to the upside) Selling the 40 Straddle and buying the 41 call. For a 1.77 credit. Now if we get a volatility crush then I can still make money on this trade.

Our new break evens are at $36.14 and 40.42
Trade active: We are showing a small loss on this trade, but we are in good shape. Volatility didn't came down as fast as I thought after the election, but we still have 70% chance to make money with our new setup.

We just need time to pass so that we collect some of the extrinsic value.
Trade closed manually: Got to close this trade for a small win, after I was wrong on my initial trade. Options are awesome!