Good trade. I forget how the PFs are used to measure. Measure against ATM straddle? Does a potential edge come from a put skew or directional or a combo of the two?
Timing is critical as with any trade. Best to go to the thread or I'll be repeating most of what is out there: http://www.elitetrader.com/vb/showthread.php?t=244704 I am planning another today by the close. We'll see.
I did the Sep monthly in the last hour at 290 and that is the NBBO for the close: Sep 3775 P/C at 3x1 for a credit of 290.
Could you give color on your strike selection in this last trade? In your previous thread, you had mentioned that you prefer to go first strike that is outside of the ATM combo. Thx and appreciate your posts