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Ironfly

Opening (IRA): ARKK October 18th 36/43/43/50 Iron Fly... for a 3.68 credit. Comments: >35% IV. Doing a smidge of nondirectional here in ARKK, which is toward the top of my ETF board for 30-day IV behind BITO, TQQQ, and SMH (which I already have positions in). Structuring this as a risk one to make one, which is what I like to see out of these. Metrics: Buying Power Effect: 3.32 Max Profit: 3.68 ROC at Max: 110.84% 25% Max: .92 ROC at 25% Max: 27.71% Will look to take profit at 25% max. These generally aren't managed intraexpiry; they work or they don't ... .
AMEX:ARKK
by NaughtyPines
OPENING: EWW SEPTEMBER 18TH 32/33 SKINNY SHORT STRANGLE... for a 2.44/contract credit. Notes: With price trading in between the 32 and 33 strikes, went skinny short strangle in lieu of short straddle. Since it's almost a straddle, I'll look to take profit at 25% max. I've gone ahead and shown defined risk wings for an iron fly/skinny iron condor setup on the chart -- the September 18th 28/32/33/37, which was paying 1.97 as of the writing of this post, just short of the one-half the width of the wings I look for out of an iron fly (i.e., this would be a four-wide iron fly, so would ideally look for around 2.00 in credit out of it).
AMEX:EWW
by NaughtyPines
TRADE IDEA: XLF AUGUST 21ST 20/23/24/27 IRON FLY... for a 1.51 credit (.38 at 25% max). Notes: 5 out of XLF's top 10 holdings announce next week, so this is a way to get a piece of that volatility without getting into single name, with a classic risk one to make one iron fly setup. I've split the shorties across current price, but would look to take profit at 25% max, as you would with a short straddle/iron fly. Naturally, you may have to adjust the strikes, depending on what XLF does early in the week. For those who like to trade naked, the August 21st 23/24 skinny short strangle was paying 1.90 (.48 at 25% max) as of Friday close.
AMEX:XLF
by NaughtyPines
$HOG Iron Fly for earningsBuy: 11/22 33p for .49 Sell: 11/22 37p for 1.61 Sell: 11/22 37c for 1.80 Buy: 11/22 41c for .40 Net Credit: $2.52 (Max profit if pinned at $37) BP Reduction: $1.48 As seen on the chart, was able to cash in on an Iron Condor last earnings cycle in a similar range. Going to give myself a little more time to be right and look to pin $37 in the next 30 days. Not overly concerned with what happens in the morning with earnings, but the binary event gives a nice chance to cash in on IV crush if the underlying shows little movement.
NYSE:HOG
by DefineRisk
FB Iron FlyI haven't done a neutral strategy in awhile so lets go ahead and give this a shot, 180/190/190/200 Iron Fly, Credit collected was $800 max loss is $200. Max gain is $200 while max loss is $100 I plan to take a profit after 2-3 weeks if the position goes in my favor. Otherwise I'll leave the position and tax a loss at my target if it doesn't pan out. If the position moves and stays around target of around 190 then I'll sell as IV crush will devalue the spread. Exp Nov 29
NASDAQ:META
by Synaptic724
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