Probability of Profit: 55% Max Profit: 236/contact Max Loss/Buying Power Effect On Margin: Undefined/525/contract Break Evens: 23.64/28.36 Delta: -9.37 Theta: 2.1
Notes: Did this from my phone on Friday ... . Although I like to see >35% background implied volatility when pulling the trigger on these, at 30.3%, this isn't horrible. Will shoot for 25% max/roll at 24 DTE or on side approaching worthless.
Trade active
Realizing gains where I can find them ... . Rolling the 26 short straddle from Aug to the Oct 25/26 tight short strangle for a small realized gain and a .62/contract credit. Scratch at 2.98. This adds some flexibility to the setup -- I can roll a side up or down, and keeps the net delta of the setup short while improving my scratch point. The downside is that I've extended duration, which slows theta decay.
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