NaughtyPines

TRADE IDEA: GDX JUNE 24TH 20/26.5 SHORT STRANGLE

AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
Continuing to follow the volatility ... . And it's currently in gold             ... .

Metrics:
Probability of Profit: 72%
P50: 78%
Max Profit: $95/contract
Max Loss/Buying Power Effect: Undefined/~$250/contract
Theta: 3.11/contract
Delta: -9.7/contract

Notes: I'll shoot for taking this off at 50% max profit ... .
Comment: Filled for $96 ... .
Trade closed manually: Covering here a little early for a $56/contract debit, yielding $40 profit/per contract. I want to free up some buying power for a potential VIX at 13 setup ... . It's getting close.
Looking at GDX, GDXJ too. Though with Dollar strengthening I expect a pullback before rally continues
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Excellent premium selling in GDXJ, too, although it's a slightly less liquid product, so you may have to piddle with getting a fill around the mid ... .
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