Caught a little IV increase in TBT and looking to deploy smaller amounts of capital here.
Trade Setup:
-1 TBT Apr 21 35/40/40/45 Iron Fly (Synthetic Straddle) @ $2.52
DTE: 51
Max Win: $252
Max Loss: $248
Break evens: 37.48 & 42.52
Trade Management: Profit target is 25% or ~$63. Small % of portfolio is used here so the first management I will do is a full loser. I don't foresee TBT running to 35 or 45 before April, but if I need to roll to keep the dream alive, I will look at the possibility.
Green is profit zone; Vertical black bar is expiration.
Trade Setup:
-1 TBT Apr 21 35/40/40/45 Iron Fly (Synthetic Straddle) @ $2.52
DTE: 51
Max Win: $252
Max Loss: $248
Break evens: 37.48 & 42.52
Trade Management: Profit target is 25% or ~$63. Small % of portfolio is used here so the first management I will do is a full loser. I don't foresee TBT running to 35 or 45 before April, but if I need to roll to keep the dream alive, I will look at the possibility.
Green is profit zone; Vertical black bar is expiration.
Trade closed manually:
Closed trade at 25%; Fill price at $1.86. $66 profit/contract