Opening (IRA): TSLA March 21st 330/335/465/470 IC*... for a 1.70 credit.
Comments: Post-earnings, IV remains fairly decent here at 57.3. Selling the -20 delta short option legs and buying the wings out from there. Basically, just doing small stuff while I wait for other stuff to play out.
Metrics:
Max Profit: 1.70
Buying Power Effect: 3.30
ROC at Max: 51.2%
50% Max: .85
ROC at 50% Max: 25.8%
Delta/Theta: .95/2.24
Will generally look to take profit at 50% max, consider doing a delta adjustment when the delta/theta ratio skews out to >2.0.
* -- Iron Condor.
