OPENING: XBI JUNE 21ST 75/78/92/95 IRON CONDOR
... for a 1.04/contract credit.
Metrics:
Max Profit: $104/contract
Max Loss/Buying Power Effect: $196/contract
Break Evens: 76.96/93.04
Delta/Theta: -2.95/1.41
Notes: Back into biotech, collecting one-third the width of the wings. Will look to manage the trade at side approaching worthless (i.e., rolling toward the tested side) with a profit target of 50% max.
Metrics:
Max Profit: $104/contract
Max Loss/Buying Power Effect: $196/contract
Break Evens: 76.96/93.04
Delta/Theta: -2.95/1.41
Notes: Back into biotech, collecting one-third the width of the wings. Will look to manage the trade at side approaching worthless (i.e., rolling toward the tested side) with a profit target of 50% max.
Trade active:
Rolling the short call side toward current price on approaching worthless to the 87/90 for a .45/contract credit; scratch at 1.49.
Trade closed manually:
Taking profit here: closing for 1.05/contract: .44/$44 profit per contract.