With an IVR at 51 and VIX at 27, here's an example of an IWM trade I would put on were I not to have done the SPY IC I did earlier today:
Nov 20 94/98/116/119 Iron Condor
POP: 61%
Max Profit: 1.02
Buying Power Effect: 2.98
Break-Evens: 96.98/117.02
Delta: -3.71
Theta: 1.53
It's a bit longer in duration than I'd normally like, but I wouldn't look a gift horse in the mouth when you can get 1/3rd the width of your strikes ... . Look to take the entire set-up off at 50% max profit.
Nov 20 94/98/116/119 Iron Condor
POP: 61%
Max Profit: 1.02
Buying Power Effect: 2.98
Break-Evens: 96.98/117.02
Delta: -3.71
Theta: 1.53
It's a bit longer in duration than I'd normally like, but I wouldn't look a gift horse in the mouth when you can get 1/3rd the width of your strikes ... . Look to take the entire set-up off at 50% max profit.
