... for a 2.70 credit.
Comments: 30-day IV remains fairly decent here at 48.9%. Going wider than I usually do from a delta standpoint, with the short option legs camped out at the 16 delta, but with the wings at standard width (1/10th the price of the underlying), knowing that I will probably adjust the setup at some point given its duration (56 DTE).
Earnings haven't been firmly announced yet, but are likely to occur right around mopex (~11/14), so will look to be out of the trade by then.
Metrics:
Buying Power Effect: 12.30
Max Profit: 2.70
ROC at Max: 21.95%
50% Max: 1.35
ROC at 50% Max: 10.98%
Will generally look to take profit at 50% max; roll in sides to delta balance.
Comments: 30-day IV remains fairly decent here at 48.9%. Going wider than I usually do from a delta standpoint, with the short option legs camped out at the 16 delta, but with the wings at standard width (1/10th the price of the underlying), knowing that I will probably adjust the setup at some point given its duration (56 DTE).
Earnings haven't been firmly announced yet, but are likely to occur right around mopex (~11/14), so will look to be out of the trade by then.
Metrics:
Buying Power Effect: 12.30
Max Profit: 2.70
ROC at Max: 21.95%
50% Max: 1.35
ROC at 50% Max: 10.98%
Will generally look to take profit at 50% max; roll in sides to delta balance.
Trade active
Closed just the in-profit short strangle body for a 3.15 debit and reset with a 16 delta short strangle at the 107/146 for a 3.73 credit.Total credits collected of 3.31.
Trade active
Rolled the 83/107 short put vertical up to the 92/116 (short leg at the 16 delta) for an .87 credit. 4.18 net credits collected with the resulting setup being the Nov 15th 92/116/146/158 iron condor.Trade closed manually
Closed for a 3.75 debit; .43 ($43) winner.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.