78% probability trade on XLK (Big Lizard)
Updated
With an Implied volatility rank at 49 I did a Straddle with no upside risk (Big Lizard) on XLK for $2.12 per contract. Our break even is at $51.88 price and with 50 days to expiration that gives us a 78% probability of profit.
The trade:
Sell 18 AUG 54 Call
Sell 18 AUG 54 PUT
Buy 18 AUG 56 Call
The trade:
Sell 18 AUG 54 Call
Sell 18 AUG 54 PUT
Buy 18 AUG 56 Call
Trade closed: target reached
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