Adding to my core exchange traded fund fly positions here with this high implied volatility
rank underlying. (I already have some XLU
on, so just adding a "smidgeon" here). The implied volatilty in this isn't great, but then it's almost never "great" ... .
Probability of Profit: 46%
Max Profit: $210/contract
Max Loss: $190/contract
Break Evens: 44
Notes: Will look to manage this like a short straddle -- at 25% max profit ... .