SPX 19OCT Broken Wing Butterfly (846)

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This topic contains 1 reply, has 1 voice, and was last updated by  Igor 2 months ago.

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  • #14282

    Igor
    Keymaster

    SPX at 2881
    VIX at 14.27

    We’re going to put on an income trade in 19OCT expiration cycle with 43 days to expiration.

    This is a Broken Wing Put Butterfly.

    We’re buying 2740put, selling (2) 2770 puts, buying 2780 put.

    This is a high probability trade with max potential profit around 10% return on risk.
     

    Order Ticket
    Type Asset Duration Strike C/P
    BTO SPX 19OCT 18 2780 Put
    STO X2 SPX 19OCT 18 2770 Put
    BTO SPX 19OCT 18 2740 Put
    Total Credit: 1.85

     

    Risk Profile:

    #14322

    Igor
    Keymaster

    We’re looking to exit this trade at 50% of max profit.

     

    Order Ticket
    Type Asset Duration Strike C/P
    STC SPX 19OCT 18 2780 Put
    BTC X2 SPX 19OCT 18 2770 Put
    STC SPX 19OCT 18 2740 Put
    Total Debit: 0.90

     

    Risk Profile:

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