FSLR -- MAR 4TH 51/54/70.5/73.5 IRON CONDOR

Going small here, given the fact that the solar space has been a bit of wild of late ... .


FSLR             March 4th 51/54/70/73.5
Probability of Profit: 66%
Max Profit: $71/contract
Buying Power Effect: $229/contract

Notes: Ordinarily, I pass on stuff that doesn't have at least a 1.00 credit in it. I could naturally go short strangle, but don't want to tie up the buying power if the thing goes awry (a 53.5/71.5 short strangle would get you a 1.44 credit). That being said, I don't have a ton of stuff going on (mostly waiting for longer-term setups to play out), so I figured I'd play it just to keep some buying power engaged ... . Look to take it off at 50% max profit.
Comment: Not looking like I am going to get a fill of the iron condor, so I'm going to man up and short strangle it ... .
Comment: Went March 4th 53.5/70.5 short strangle for 1.22 credit. Filled immediately.
Comment: Covered at open for 50% max profit (a .60 debit).
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