Neutral trade on MSFT (IronFly)
Updated
With an IVR of 51.5 on Microsoft
I sold an Iron fly with 29 days to expiration for $2.32
This is a neutral trade and we make money as long as price stays between $65.18 and 69.82 in the next 29 days.
The trade:
Long 72.5 Call
Short 67.5 Call
Short 67.5 Put
Long 62.5 Put
Max win $232 per contract
I sold an Iron fly with 29 days to expiration for $2.32
This is a neutral trade and we make money as long as price stays between $65.18 and 69.82 in the next 29 days.
The trade:
Long 72.5 Call
Short 67.5 Call
Short 67.5 Put
Long 62.5 Put
Max win $232 per contract
Trade active
Was able to roll for a credit to extend duration to 38 days to expiration and see if price comes back and also reduce our max loss. Did the roll in 2 trades, first the Call side for a 0.03 credit and then the Put side for 0.21.
Trade closed manually
A nice down move put us into the green zone. With 10 days to expiration and 20 days for earnings I decided to close this trade for a $210 win.
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