$MYL Short Strangle Opportunity
If you follow me you know I like short volatility and delta neutral trades. This one is no different. IV in MMYL has been dropping over recent weeks and I believe will continue to do so. Currently, options on the weeklies are not ideal because of liquidity, so I think the JUL19 standard expiration would be better. I opened AUG-2 15.5/19.5 and am currently getting hosed because of bad liquidity! That trade's breakeven points are shown as the black lines and is currently priced higher than where I got filled >.>
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