OPENING: VIX JULY 21ST 10/12.5/12.5/15 IRON FLY

Diupdate
... for a 1.60 credit.

With the /VX July contract currently trading at 12.74, this is basically a bet that VIX will finish between current VIX price and the VIX futures front month price around expiry, although anything between 10.90 and 14.10 will do ... .

Metrics:

Max Profit: 1.60/contract
Max Loss/BPE: .90/contract
BE's at 10.90/14.10

Notes: Will look to manage at 25% max.
Trading ditutup: target tercapai
I'm putzing with taking profit on these at 10% max; it just seems you have to wait too long for the 25%. Covering here for 1.45 ... . Naturally, for the ones where you collect a greater credit at the door, the 10% might be okay. In order to collect a larger credit at the door, however, the front month /VX future has to be higher, and it just hasn't been.
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