OPENING: SPY MARCH 17TH 205/208/234/237 IRON CONDOR

I used to do a lot of SPY, IWM, QQQ, and DIA iron condors as a core position, but temporarily wandered away from those given how sporadic the implied volatility has been in these underlyings. Additionally, they have nonexistent "engagement value" (i.e., they're boring), and I haven't been able to get decent premium out of 45 day setups. Because implied volatility is so low right now, I went out to the first expiry in which I could get something approaching a 1.00 credit for a 3-wide, 20-delta setup. Here, though, I actually went a touch wider (the short options are around the 16 delta strikes).

Metrics:

Probability of Profit Percentage: 59%
P50: 75%
Max Profit: $94/contract
Max Loss/Buying Power Effect: $206/contract
Break Evens: 207.06/234.94

As with all of these, I'll look to manage the setup at 50% max profit.

העסקה בוטלה באופן ידני:

Covering this for a .48 debit here; in for .94, out for .48; $46 gross profit/contract.