I previously rolled to the Dec 16th expiry with the intention of setting up an iron fly there by selling a put side against. Unfortunately, I set up the short put vert (which I sold for .43 cr) in the Dec 23rd expiry, so at that point, I had a weird ass setup -- a Dec 16th 128/131 short call vert with a Dec 23rd 124/128 short put vert.
Naturally, I could have just let that "play out," but weird stuff bugs me, so I'm fixing it here ... .
Covering the short put side for a .05 debit here (near worthless). Because I'm at heightened risk of assignment here (ex-divvy date), I will close out the short call side at NY open. Sometimes, you just run out of time; I'd rather not be assigned 100 short shares of IWM at 130 ... .
FractalTrader
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risk prof is interesting. If you leave off the .14 put spread, it look even better imo...not really getting much mileage out of it.
FractalTrader
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scratch that, it protects your short call, guessing that's the intention.
NaughtyPines
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@FractalTrader, Exactamundo. I put it on for a .43 credit ($43). It's now eroded to like .15 ($15) in this up move ... . So it's protection value is quickly dwindling here. Lol.