There is an interesting income trade opportunity amidst buyout news of Dow chemical (Dow).

Sell: Dow 50 calls, 40 Puts, May
Buy: Dow 55 calls, 35 puts, September
Credit received:  $0.15 per trade
ROM: Difficult to estimate, at current IVs, it is $76 (15.6%) to $117 (24%) (per trade) by May expiration for $485 investment without considering upsides from adjustments.

This is [...]

As my original Iron condor was not filled, I revised my Iron condor to shorter range. Though this is no my idea trade but I wanted to benefit from long weekend (due to theta decay). This was one of the most difficult fill for me for two reasons- 1) slow connection speed (I had extended [...]

RUT Iron Condor May 2007
 
Even though markets are little shaky currently, here is my thought for my bread-n-butter strategy i.e. Iron Condor.

Underlying: Russell 2000 index ($RUT)
Price: RUT @ 800
BUY: Call - May 07 880 call; PUT - May 07, 730
Sell:  Call – May 07 870 call; PUT – May 07, 740
Credit: $2.35 or better.
Margin: [...]