... for a 4.40 credit.
Comments: I would like IV to be higher and SPX to be weaker, but can't have everything. Selling the 20's and erecting my longs out from there. 4.40 credit on buying power effect of 45.60; 9.6% ROC at max 4.8% at 50% max.
Will generally look to take profit at 50% max, but will also look to manage the two aspects of this setup (a short put vertical credit spread and a long put vertical debit spread) if the opportunity presents itself.
* -- Broken Wing Butterfly.
Comments: I would like IV to be higher and SPX to be weaker, but can't have everything. Selling the 20's and erecting my longs out from there. 4.40 credit on buying power effect of 45.60; 9.6% ROC at max 4.8% at 50% max.
Will generally look to take profit at 50% max, but will also look to manage the two aspects of this setup (a short put vertical credit spread and a long put vertical debit spread) if the opportunity presents itself.
* -- Broken Wing Butterfly.
