OPENING: RUT JULY 19TH 1415/1420/1600/1605 IRON CONDOR
... for a 1.78/contract credit.
Metrics:
Max Profit: $178/contract
Max Loss: $328/contract
Break Evens: 1418.25/1601.75
Delta/Theta: -.73/2.21
Notes: Squeezing in a little more RUT in the July cycle and collecting greater than one-third the width of the wings. Will look to roll in untested side on approaching worthless or on side test and take profit at 50% max. And now that I've got more than one setup on, can look to mix and match profitable call side with profitable put side to take off risk should that present itself.
* Strikes in idea title are correct; text on horizontals is not ... .
Metrics:
Max Profit: $178/contract
Max Loss: $328/contract
Break Evens: 1418.25/1601.75
Delta/Theta: -.73/2.21
Notes: Squeezing in a little more RUT in the July cycle and collecting greater than one-third the width of the wings. Will look to roll in untested side on approaching worthless or on side test and take profit at 50% max. And now that I've got more than one setup on, can look to mix and match profitable call side with profitable put side to take off risk should that present itself.
* Strikes in idea title are correct; text on horizontals is not ... .
Trade active:
Rolling the 1415/1420 put side to the 1485/1490 for a .40 credit; scratch at 2.18.
Trade closed manually:
Closing here for 1.15, a 1.03 ($103) winner (20.6% ROC).