NaughtyPines

SOLD GDXJ APRIL 31 23/31 SHORT STRANGLE

AMEX:GDXJ   VANECK VECTORS JUNIOR GOLD MINERS ETF
As with the XOP             play, selling premium where the volatility is and that's in gold             issues ( GDX             , GG             , GDXJ             ) and oil             ( OIH             , XOP             ) right now.

I filled this earlier today for a $98 credit.

The current metrics are:

Probability of Profit: 72%
Max Profit: $90 per contract
Buying Power Effect: Undefined

Notes: At the suggestion of FractalTrader (that you very much for your ideas, by the way), I'm playing around with what I can do graphically here with options setups, so that it's easier to visualize where price has to "sit" for the duration of the setup.

If you have traded options before, the vast majority of platforms display a range of prices horizontally, with prices below current price on the left, current price in the middle, and prices above current prices on the right, so it's a bit of a challenge to adapt an options platform view (which only consists of a horizontal "price axis") to a candlestick chart.

In any event, this is a short strangle, so I want price to remain between my two short option strikes for the duration of the trade -- above the 23 short put and below the 31 short call ... . I'll look to take the whole setup off at 50% max profit.
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out