Junior Minors have been beat up a bit lately, looking for some sideways action for a bit.
Trade Setup:
-1 GDXJ 29/37/37/45 Iron Fly (Synthetic Straddle) @ $4.34
DTE: 51
Max Win: $434
Max Loss: $366
Break evens: 32.68 & 41.34
Trade Management: 25% or ~$108 on the trade for profit management. I will look to take this as a full loser if we get some whipsaw, but I can always roll the ITM or tested side to reduce the loss near expiration.
Green zone is profit; Vertical black bar is expiration.
Trade Setup:
-1 GDXJ 29/37/37/45 Iron Fly (Synthetic Straddle) @ $4.34
DTE: 51
Max Win: $434
Max Loss: $366
Break evens: 32.68 & 41.34
Trade Management: 25% or ~$108 on the trade for profit management. I will look to take this as a full loser if we get some whipsaw, but I can always roll the ITM or tested side to reduce the loss near expiration.
Green zone is profit; Vertical black bar is expiration.
Trade closed: target reached:
Closed this trade at $3.24 today; $110 profit/contract