Max Profit: $77/contract
Max Loss: $223/contract
Break Even: 26.27
Notes: My standard Thursday or Friday weekly expiry play. You can probably still get a fill in the neighborhood of 2.25 (or .75 credit for a short call vert) if it doesn't move much come Friday open. Will look to take it off for >15% of what I put it on for ... .
Also, how do you manage shorter duration trades like this one -- with 50 DTE (anything less than 90d for me) -- when volatility rises at the wrong time? For example, less than 21 DTE? Less than 14 DTE? Do you roll? Close? How close to expiration do you normally let the trade run until you decide to manage things? (I've experimented with rolling out and up in backtests, but it doesn't always work. I have not really been able to determine what the optimal exit point is when the trade is in a loss. More of a "feel" thing for me -- and how secondary indicators look, such as the term struction, the VXV/VIX ratio, etc.)