OPENING: IWM JUNE 16TH 128/131/141/142 "DOUBLE DOUBLE"

This is basically an iron condor variation where you double up the number of contracts on the call side while going narrower with the call side spread. Due to "the math" of that, there is no additional buying power effect, but you collect some additional credit ... .

Metrics:

Probability of Profit: 57%
Max Profit: $76/contract
Max Loss/Buying Power Effect: $224/contract
Theta: 1.59
Delta: -.68

Notes: Will look to take off at 50% max.

Comment:

Really should be a "single double" ... .

Trade closed manually:

Covering here for a .62/contract db (about 18% max). I'll take that a mere 5 days into the trade ... .