78% probability trade on XLK (Big Lizard)

With an Implied volatility rank at 49 I did a Straddle with no upside risk (Big Lizard) on XLK for $2.12 per contract. Our break even is at $51.88 price and with 50 days to expiration that gives us a 78% probability of profit.

The trade:

Sell 18 AUG 54 Call
Sell 18 AUG 54 PUT
Buy 18 AUG 56 Call

Trade closed: target reached