IRA has no taxes it is tax deferred retirement account until you are of retirement age which might be 99 by the time we all get there.
Dest isn't traditional IRA penalty on your original deposit of your taxable income + penalty on earned capital?
I am only an expert at tax avoidance. My tax attorney states that he feels I'll net at the long-term rate.
Traditional IRA has early withdrawal penalty prior to 59.5 (unless you put the money back within 60 days). Taxable portion is based on amount withdrawn. After age 70.5, you must begin to req min distribution (RMD) each year (=life expectancy factor / closing balance on Dec31), you must also pay 20% withholding tax on that amount.
If I am understanding your IC position correctly, you are buying 1120 GOOG Puts, Selling 1160 Puts, Selling 1200 Calls, and Buying 1240 Calls. The above trade seems expensive from a IV received vs IV paid standpoint, as your long put is 32.8% bid, your short put is 23.6% offered, your short call is 21.2% offered, and your long call is 35.3% bid.
It's not a skew trade. With an IC, you are almost always buying higher vol than selling. I figure he just wants to have some atm curvature exposure, as he is short delta in Nq, and has residual position in TSLA upside. It's a nice way to balance out a book of index/sn positions.
I am not going to offer color beyond structure (microstructure). I am not here to tutor anyone. Take the fills, don't take the fills, or ignore the thread.