Long
WFM Iron Condor
With market weakness the week, WFM has been holding up quite well; it has managed to stay up on Friday, despite a 30% + VIX spike.
Option IV is close to the 96th percentile, making premium rich and a possible range trade seems to be setting up.
I sold the FEB 40-45 put - 60-65 call Iron Condor on Friday about .34 cents mid. It is about 1.5 STD outs. Looking for WFM market to bounce a little and go sideways, although there is plenty of room for movement in either direction.
Option IV is close to the 96th percentile, making premium rich and a possible range trade seems to be setting up.
I sold the FEB 40-45 put - 60-65 call Iron Condor on Friday about .34 cents mid. It is about 1.5 STD outs. Looking for WFM market to bounce a little and go sideways, although there is plenty of room for movement in either direction.
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