NaughtyPines

TRADE IDEA: RUT/IUX 1075/1085/1190/1200 IRON CONDOR

INDEX:IUX   Russell 2000 Index
5 months ago
Staying with short duration index setups here, so that I can be flexible if any non index premium selling opportunities come along; going with RUT over SPX             due to RUT's higher implied volatility ... . (As a smaller, alternative trade, you can look at a similar setup in IWM             ).

Metrics:

Probability of Profit: 62%
P50: 71%
Max Profit: $340/contract
Max Loss/Buying Power Effect: $660
Delta: -3.51/contract
Theta: 12.26/day/contract

Notes: Naturally, I'm looking at pricing in the off hours, so it may be necessary to tweak the setup a bit in terms of strikes and/or fill price on NY open. I'll look to manage this setup aggressively and take it off at 50% max.
5 months ago
Comment: Actually got this filled for a $345 credit, slightly above the mid, at open.
5 months ago
Trade closed manually: Closing this out for $288/contract debit in advance of Brexit, yielding a net profit of $57/contract.
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