NaughtyPines

TRADE IDEA: SPY JUNE 17TH 193/196/212/215 IRON CONDOR

AMEX:SPY   SPDR S&P 500
With VIX             above 15, I'm layering on some additional SPY             in the June monthly here ... .

Metrics:

Probability of Profit: 54%
P50: 71% (explained below)
Max Profit: $100/contract
Max Loss/Buying Power Effect: $200/contract
Theta: 1.53/contract
Delta: -3.97

Notes: The overall probability of profit for the setup is quite low. However, the P50 -- the probability that the setup will reach 50% max profit sometime prior to expiry-- is 71%, which I'm more than satisfied with since I'm getting one-third the width of the spreads for the setup. The other thing is that I already have several iron condors on in that expiry, so I can "mix and match" the short call spreads of one iron condor with the short put spreads of another to peel them off should I want to do that at some point ... .
Comment: Chased price a bit; filled for $95/contract.
Comment: Covered today for a $49 debit, so netted $95 - $49 = $46/contract.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
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 Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out