Strangle on GDXJ for a 61% probability trade
It looks like Sellers are starting to come in, and I don't think buyers will give up that easily, so I expect some 2 way action in the next 30 days. With a decent IV Rank of 39 I want to sell some premium to add to my theta numbers.
The trade:
Sold the 32/37 Strangle for $1.83 per contract
61% probability of profit
Will look to close it at 50% of the premium received to improve our probabilities.
The trade:
Sold the 32/37 Strangle for $1.83 per contract
61% probability of profit
Will look to close it at 50% of the premium received to improve our probabilities.
Trade closed manually:
With 18 days to go and IV Rank of 10 I decided to take profit on this trade. Took around $60 per contract which is around 30% of the premium received.
