TLT @ $137.44 and 23% IVR

Neutral
 
Short Strangle
Max profit is $123 / Breakevens are 5% to the downside, and 5% to the upside / Requires capital of $2,035
 
Sell -1 TLT 131.0 Put in July-16'21 (45 DTE)
Sell -1 TLT 144.0 Call in July-16'21 (45 DTE)
$1.24 credit


TLT @ $137.44 and 23% IVR

Neutral
 
Iron Condor
Max profit of $74 possible / Benefits from theta decay of $0.78 per day / Breakevens are 4% to the downside, and 3% to the upside / Requires capital of $126
 
Buy 1 TLT 131.0 Put in July-16'21 (45 DTE)
Sell -1 TLT 133.0 Put in July-16'21 (45 DTE)
Sell -1 TLT 141.0 Call in July-16'21 (45 DTE)
Buy 1 TLT 143.0 Call in July-16'21 (45 DTE)
$0.73 credit