Open Selling WFC Iron Fly for $2,77 - August Reg.

[pabs]

New position in Wells Fargo (WFC) entering bank sector after a nice rally for banks in general. Choosing an Iron Fly, selling the 55 strike (put & call) and buying the 50 and 60 wings. Credit received $2,77 (max loss then $2,23). The Iron Fly is delta neutral to bearish as WFC is trading near $56. Will manage at 25% as I do with most Iron Flies

• Underlying: WFC
• Detail: OPEN SELL IRON FLY $2.77
• Date: 06-JUL-2017 13:56
• IV Rank: 45
• Buying Power Required: 300

Side    Qty   Pos Effect   Exp               Strike Type   Price
SELL    -1    TO OPEN    18-AGO-17   55      PUT    $1.22
SELL    -1    TO OPEN    18-AGO-17   55      CALL  $2.02
BUY       1    TO OPEN    18-AGO-17   50      PUT    $0.22
BUY       1    TO OPEN    18-AGO-17   60     CALL  $0.25

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