OPENING: EWZ JULY 21ST 26/28/38.5/40.5 IRON CONDOR
... for a .61 credit.
With EWZ caving heftily here and implied volatility popping, I'm going back to the Brazilian well narrow and small, since I can foresee this having some volatility in it for a bit, in which case I may want to add to the position.
Metrics:
POP%: 63%
Max Profit: $61/contract
Max Loss/Buying Power Effect: $139/contract
BE's: 27.39/39.11
Theta: .69
Delta: .7
Notes: I'll look to take this off at 50% max ... .
With EWZ caving heftily here and implied volatility popping, I'm going back to the Brazilian well narrow and small, since I can foresee this having some volatility in it for a bit, in which case I may want to add to the position.
Metrics:
POP%: 63%
Max Profit: $61/contract
Max Loss/Buying Power Effect: $139/contract
BE's: 27.39/39.11
Theta: .69
Delta: .7
Notes: I'll look to take this off at 50% max ... .
Trade closed manually:
When the market gives you 25%-ish with 60 DTE, you take it. Covering here for a .46/contract debit (25% max).
