mortlightman 6:34 am on Thursday, June 23, 2016

STO SPX IBF 2110/2100/2100/2090 9.10…

STO SPX IBF 2110/2100/2100/2090 9.10 Cr This Friday

Jeff 6:59 am on Thursday, June 23, 2016

Nice premium! Hopefully for you the Brexit reaction is muted.
- Bobbie 7:33 am on Thursday, June 23, 2016
  
  am I understanding your trade – only $90 of risk?
  - mortlightman 7:34 am on Thursday, June 23, 2016
    
    correct
    - Bobbie 7:38 am on Thursday, June 23, 2016
      
      Where does price have to be to be profitable – dead on 2100?
      - mortlightman 7:40 am on Thursday, June 23, 2016
        
        between 2092 & 2108
        
        Bobbie 7:41 am on Thursday, June 23, 2016
        
        thanks for responding so quickly. I’m thinking of trying this trade
        
        mortlightman 7:42 am on Thursday, June 23, 2016
        
        you probably can sell it for a bit more than I did.
        
        mortlightman 7:52 am on Thursday, June 23, 2016
        
        you could also move wings to 20 and bring in a much bigger credit with just a bit more risk
        
        Bobbie 7:54 am on Thursday, June 23, 2016
        
        thanks!
        
        Bobbie 7:56 am on Thursday, June 23, 2016
        
        Got $9.20 credit
anachronisti 7:47 am on Thursday, June 23, 2016

Interesting trade Mort, thanks for sharing that!
fuzzballl 7:57 am on Thursday, June 23, 2016

Sounds like fun…trying for 13.50 with 15 wide. Thx!
- mortlightman 7:58 am on Thursday, June 23, 2016
  
  Very Good
  - fuzzballl 7:59 am on Thursday, June 23, 2016
    
    More fun than a few hours at the blackjack tables…LOL
  - Bobbie 8:02 am on Thursday, June 23, 2016
    
    are Iron Flys your specialty? I would love to learn more about them, specifically how to manage them.
    - fuzzballl 8:05 am on Thursday, June 23, 2016
      
      Filled at 13.40. For me they’re just a binary event. Risking it all ang hoping Mr. Market cooperates. Possibly a little salvage value if the thing explodes but basically managing by posiyion size and max $$ I’m willing to risk.
      - fuzzballl 8:06 am on Thursday, June 23, 2016
        
        Darn it…sorry for typos. Was just walking out the door.
      - mortlightman 8:06 am on Thursday, June 23, 2016
        
        agree
rknight52 9:32 am on Thursday, June 23, 2016

Nice idea. Got 9.30 with SPX at 2105.64. Perhaps we will see “sell the news” when the Brexit vote is finished and then this will settle in nicely in this range. If not, risking 70 to make 930 is not a bad idea. I’ve done riskier things with much less potential reward. Thanks, @mortlightman !
thomberg1201 10:57 am on Thursday, June 23, 2016

I’m in at 940-thanks everybody
Jeff 10:10 pm on Thursday, June 23, 2016

Mort, didn’t we mean to center this at 2000?