SMH @ $300.91
IVR: 25%
Neutral to Bearish Call Broken Wing Butterfly
Buy 1 SMH 310.0 Call in January-21'22 (66 DTE)
Sell -2 SMH 315.0 Call in January-21'22 (66 DTE)
Buy 1 SMH 330.0 Call in January-21'22 (66 DTE)
Credit/Debit: $1.84 credit Estimated Buying Power Reduction: $816
Max Profit: $684.0 Max Loss: $816.0
Downside Breakeven: No downside risk Upside Breakeven: 321.84
Max Profit Zone: Pin 315.0
Delta: -8.0
Theta: 2.0 Vega: -9.0


TLT @ $146.06
IVR: 41%
Bearish Short Call Spread
Buy 1 TLT 150.0 Call in January-21'22 (66 DTE)
Sell -1 TLT 148.0 Call in January-21'22 (66 DTE)
Credit/Debit: $0.68 credit Estimated Buying Power Reduction: $132
Max Profit: $68 Max Loss: $132.0
Downside Breakeven: No downside risk Upside Breakeven: 148.68
Max Profit Zone: Below 148.0
Delta: -8.0
Theta: 0.0 Vega: -1.0


TLT @ $146.06
IVR: 41%
Neutral to Bearish Call Broken Wing Butterfly
Buy 1 TLT 149.0 Call in January-21'22 (66 DTE)
Sell -2 TLT 150.0 Call in January-21'22 (66 DTE)
Buy 1 TLT 154.0 Call in January-21'22 (66 DTE)
Credit/Debit: $0.61 credit Estimated Buying Power Reduction: $239
Max Profit: $161.0 Max Loss: $239.0
Downside Breakeven: No downside risk Upside Breakeven: 151.61
Max Profit Zone: Pin 150.0
Delta: -10.0
Theta: 1.0 Vega: -4.0


IWM @ $237.57
IVR: 27%
Neutral Iron Condor
Buy 1 IWM 217.0 Put in January-21'22 (66 DTE)
Sell -1 IWM 221.0 Put in January-21'22 (66 DTE)
Sell -1 IWM 252.0 Call in January-21'22 (66 DTE)
Buy 1 IWM 256.0 Call in January-21'22 (66 DTE)
Credit/Debit: $1.50 credit Estimated Buying Power Reduction: $250
Max Profit: $150.0 Max Loss: $250.0
Downside Breakeven: 219.5 Upside Breakeven: 253.5
Max Profit Zone: Between 221.0 and 252.0
Delta: -2.0
Theta: 1.0 Vega: -9.0


UNG @ $17.5
IVR: 70%
Neutral to Bullish Short Put Ratio Spread
Buy 1 UNG 17.0 Put in January-21'22 (66 DTE)
Sell -2 UNG 16.0 Put in January-21'22 (66 DTE)
Credit/Debit: $1.34 credit Estimated Buying Power Reduction: $684
Max Profit: $234.0 Max Loss: $1365.0
Downside Breakeven: 13.66 Upside Breakeven: No upside risk
Max Profit Zone: Pin 16.0
Delta: 29.0
Theta: 2.0 Vega: -3.0


KWEB @ $51.32
IVR: 45%
Bullish Short Put Spread
Buy 1 KWEB 46.0 Put in January-21'22 (66 DTE)
Sell -1 KWEB 49.0 Put in January-21'22 (66 DTE)
Credit/Debit: $1.04 credit Estimated Buying Power Reduction: $196
Max Profit: $104 Max Loss: $196.0
Downside Breakeven: 47.96 Upside Breakeven: No upside risk
Max Profit Zone: Above 49.0
Delta: 12.0
Theta: 1.0 Vega: -1.0


FXI @ $41.42
IVR: 39%
Bullish to Neutral Jade Lizard
Buy 1 FXI 44.0 Call in December-17'21 (31 DTE)
Sell -1 FXI 42.0 Call in December-17'21 (31 DTE)
Sell -1 FXI 42.0 Put in December-17'21 (31 DTE)
Credit/Debit: $2.36 credit Estimated Buying Power Reduction: $1014
Max Profit: $237.0 Max Loss: $3963.0
Downside Breakeven: 39.63 Upside Breakeven: No upside risk
Max Profit Zone: Between 42.0 and 42.0
Delta: 31.0
Theta: 3.0 Vega: -7.0