Not going with the standard 2SD strangle. Instead putting wings on a strangle making it a iron condor
Sell ATM call / put, buy OTM call / put. Credit is higher looking to engage in pure vol arbitrage.
Most I can lose is 1% of account. Should be interesting.
KR 67.5/72.5/77.5 @ 2.65
ORCL 43/45/47 @ 1.40
both have ~28% POP. This is mostly a learning experience.
Got out of TLT today @ 0.18
FXE looking ok despite total break down of Greek talks. No rate hike probably took some vol out.
The KR trade went well, closed that out for 0.65
ReplyDeleteThe ORCL trade went horribly bad, but only 0.60 was at risk. So I rolled the ORCL out to July for 1.70 and closed the Jun-19 for 1.70, so therefore (commission aside) the max risk is still 0.60, and now I get some time for ORCL to trade back up.