Trade Idea for today

With the VIX at 17+ today the following trade that is “short” volatility looks interesting to me in the July 6th expiration-

SPX around 2705 to 2110

Buy a call butterfly with these strikes-

Buy 1 July 6th 2650 call

Sell 2 2700 calls

Buy 1 2740 call

I will try to execute trade for a debit around $18.00 per contract.

Will close trade if I am up or down 10% based on the cost of the trade.

Mark Fenton

mark@sheridanmentoring.com