... for a 2.85 ($285)/contract credit.
This will complete an Aug 26th 10/35 short strangle worth 4.15 in credit ($415)/contract, which I'll shoot to take off at 50% max profit.
Because I already had the 10 short put on, this doesn't cost me any additional buying power. This will also give me some protection to the short side, since I think that this is more likely to implode than explode. Naturally, I hope to be out before any of that "splosion" occurs.
This will complete an Aug 26th 10/35 short strangle worth 4.15 in credit ($415)/contract, which I'll shoot to take off at 50% max profit.
Because I already had the 10 short put on, this doesn't cost me any additional buying power. This will also give me some protection to the short side, since I think that this is more likely to implode than explode. Naturally, I hope to be out before any of that "splosion" occurs.
Trade closed manually
And ... out my last setup in this "wicked illiquid" underlying. Out for a 3.13 debit, so $99 net profit per contract (4.15 credit - 3.13 debit - fees/comms).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.