$AAL Iron CondorHaven't posted on here in a bit. Figured I would share some plays that take advantage of the recent spike in volatility.
Airlines have taken an absolute beating, and if you put a gun to my head I would say that will continue. However I don't see it happening at the same pace and we should get a couple green days mixed in. The high IV has provided a very wide profit zone here, a range equal to nearly 50% of the underlying with only 3 weeks til expiration.
Buy: 3/20 24 Call
Sell: 3/20 22 Call
Sell: 3/20 14 Put
Buy: 3/20 12 Put
Net Credit: $52
Max Loss: $148