Neutral trade on XLE (Straddle)
Updated
Looking for a neutral play on XLE (I think we are starting to have 2 way action). IVR is not that high at 26, so doing less contracts (I don't have any other position right now on XLE).
I sold the 69 Straddle for $2.78. Our break evens are just above the expected move, and this is close to a 54% probability trade.
I sold the 69 Straddle for $2.78. Our break evens are just above the expected move, and this is close to a 54% probability trade.
Trade closed: target reached
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