Selling a strangle in XOP for $1,53. This a delta neutral trade. Oil prices have been moving around lately and with XOP (this is a SPDR S&P Oil & Gas Exploration & Production ETF) at 50% Implied Volatility Rank I am selling premium. Strike selection for this trade, 30 / 33 in August.
Side Qty Pos Effect Exp Strike Type Price
SELL -1 TO OPEN 18-AGO-17 30 PUT $0.93
SELL -1 TO OPEN 18-AGO-17 33 CALL $0.60
