( From Ally Invest Webinar Today)
Buy 1 Nov 8 2580 C, Sell 2 Nov 8 2590 C, Buy 1 Nov 8 2600 C, $3.65 Debit
2 Step Risk Management Process ( No Adjustments)
#1 Sell 2 ATM Calls and Buy 1 OTM call 10 points up and down from short strike. Enter on Monday morning, expiration will be Wednesday, 2 days further out.
#2 Profit Target is about 10% of debit and risk of $365 for each 1 Butterfly. Will sell out Butterfly if Debit hits $4 or higher. Ideally, want to get out today, latest, Tuesday by Lunch. Max loss, would get out if Debit decreased below $3.15. When I exit trade for either a profit or loss, it would be for a credit.