TRADE IDEA: XRT FEB 6TH 41.5/44.5/44.5/48 IRON FLY
You know me, goin' where the volatility takes me, and today it's in the retail space.
Metrics:
Max Profit: $213/contract
Max Loss/Buying Power Effect: $137/contract
Break Evens: 42.37/46.63
Notes: As with all flies, I'll look to take profit at 25% max. This is based on after hours quotes, so this setup may not be as sexy as it looks now come NY open, so it may need some "tweaking."
Metrics:
Max Profit: $213/contract
Max Loss/Buying Power Effect: $137/contract
Break Evens: 42.37/46.63
Notes: As with all flies, I'll look to take profit at 25% max. This is based on after hours quotes, so this setup may not be as sexy as it looks now come NY open, so it may need some "tweaking."
Comment:
Well, I was right -- not as sexy at NY open, but close enough. Filled for a 2.00 credit. Will manage at 25% max.
Trade closed manually:
Covering here for a 1.52 debit; $48 gross profit; $36 net, after fees/comms.