Terra_Incognita
10-15 00:13

$IWM STRANGLE 261120 PUT 260.0/CALL 290.0$ 1️⃣ Why am I making this trade now?

setup: short skewed straggle. 

Sold the 37 DTE 20th Nov contracts. 

Short call $290

Short put $260

Skewed wider to the upside as it looks oversold at current levels so this setup is mildly bullish. 

Credit collected is decent for the duration and risk levels. IV rank and delta within 20-30 zones norm with short call at the 15 delta zone.

2️⃣ What’s my plan from here?

take profit if achieve 70-90% max premium.

Take loss if lose 2x of premium collected. 
IWM Strangle
10-14 23:17
US260.0/290.0
SidePrice | FilledRealized P&L
Credit
Open
-3.61
1
--
Holding
IWM STRANGLE 261120 PUT 260.0/CALL 290.0
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  • BartonBecky
    ·10-15 00:22
    20-30 IV rank works for premium selling, but that 15 delta call is a bit tight. Mildly bullish is fine until gamma starts biting on a fast upside move
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