Opening (IRA): NVDA Nov 15th 83/98/143/158... for a 2.70 credit.
Comments: 30-day IV remains fairly decent here at 48.9%. Going wider than I usually do from a delta standpoint, with the short option legs camped out at the 16 delta, but with the wings at standard width (1/10th the price of the underlying), knowing that I will probably adjust the setup at some point given its duration (56 DTE).
Earnings haven't been firmly announced yet, but are likely to occur right around mopex (~11/14), so will look to be out of the trade by then.
Metrics:
Buying Power Effect: 12.30
Max Profit: 2.70
ROC at Max: 21.95%
50% Max: 1.35
ROC at 50% Max: 10.98%
Will generally look to take profit at 50% max; roll in sides to delta balance.
