OPENING: SPY SEPT 15TH 238/241/249/251 IRON CONDOR
... for a .93 credit.
I really wanted to open up a QQQ 45 DTE, but a Sept 8th expiry is not yet available, so this will have to do.
Metrics:
Probability of Profit: 43%
Max Profit: $93/contract
Max Loss/Buying Power Effect: $207/contract
Break Evens: 240.07/251.93 (~expected move on both sides)
Theta: .77
Delta: -2.4
Notes: Will look to take profit at 50% max.
I really wanted to open up a QQQ 45 DTE, but a Sept 8th expiry is not yet available, so this will have to do.
Metrics:
Probability of Profit: 43%
Max Profit: $93/contract
Max Loss/Buying Power Effect: $207/contract
Break Evens: 240.07/251.93 (~expected move on both sides)
Theta: .77
Delta: -2.4
Notes: Will look to take profit at 50% max.
Trade closed manually:
Covering here for an .83 db (.10/$10) profit. Rotating into low vol strategies.