Since I have a play already going in OIH (current IVR at 66), I'm looking to add either index trades this coming week or, in the alternative, sector trades that are not correlated to what I've already got on in my portfolio and that have sufficiently high IVR so that a premium selling play is attractive.
Looking at the Dough Grid with the drop-down menu set to "TastyTrade", XLV is a possible candidate, with an IVR currently at 62 ... .
Nov 20th 59/61/72/74 Iron Condor
POP % -- 61%
Max Profit: .61 credit/contract
Buying Power Effect: 1.39/contract
Notes: The short put side of the setup is placed around the 1 SD ; the long side, at the edge of the expected move to the topside for that expiration. Due to the price of the underlying, the spread of the wings is reduced to 2 strikes, although you can certainly expand the width to 3 strikes in order to harvest more credit from the trade. I wouldn't go wider than 3, however. Look to take off the entire setup at 50% max duration.
In all likelihood, the strikes may require a bit of adjustment at NY open to accommodate overnight, broader index price movement.