Opening (IRA): SVXY Sept 20th 50 Covered Call... for a 45.77 debit.
Comments: With VIX at 29.30 relative to the /VX front month contract trading at 22.50, a basic bet that IV contracts at some point between now and Sept mopex.
Metrics:
Buying Power Effect/Break Even: 45.77
Max Profit: 4.23 ($423)
ROC at Max: 9.24%
50% Max: 2.12 ($212)
ROC