This past week's been a busy one, occupied with managing the delta in index ETF trades with price gyrating all over the place (in breach, out of breach, in breach ... . Yeesh.)
Now that things have calmed down a bit (and I've got most of my setups as delta neutral as practicable), I'm looking to put on some more trades while the indices sort themselves out. A regular of mine is TLT (iShares 20+ Year T Bond E). With IVR currently at 92 (52 week TOS), the volatility is there to sell premium.
Moreover, current price is kind of smack dab in the middle of a range between 115 and 129, making the break evens optimal at this point in time ... .
Example:
Oct 16th Expiry, 111/114/130/133 TLT Iron Condor
Max Profit/Loss: .66/contract; 2.34/contract
BE's: 113.34/130.66
Notes: I generally look to take the entire set-up off at 50% max profit or each wing off at 50% max.
Now that things have calmed down a bit (and I've got most of my setups as delta neutral as practicable), I'm looking to put on some more trades while the indices sort themselves out. A regular of mine is TLT (iShares 20+ Year T Bond E). With IVR currently at 92 (52 week TOS), the volatility is there to sell premium.
Moreover, current price is kind of smack dab in the middle of a range between 115 and 129, making the break evens optimal at this point in time ... .
Example:
Oct 16th Expiry, 111/114/130/133 TLT Iron Condor
Max Profit/Loss: .66/contract; 2.34/contract
BE's: 113.34/130.66
Notes: I generally look to take the entire set-up off at 50% max profit or each wing off at 50% max.