Hi Steemians,

IV is still super low, but I need to put some positions on to collect some theta.
But in this low IV environment it is very important to

trade small !!!

Otherwise you might get hit by IV expansion.

So in order to not getting hit too much by IV expansion (if we ever get it again), I did put on three small short straddles in the back month (August, 60 DTE), since the back month is usually not so sensitive to IV expansion as is the front month.

TLT Short Straddle:

source: tastyworks
As always for short straddles, my profit target is 25% of max profit ($91 per one lot), so I'm going to close this straddle, when it trades for $2.74.

GLD Short Straddle:

source: tastyworks
As always for short straddles, my profit target is 25% of max profit ($92 per one lot), so I'm going to close this straddle, when it trades for $2.75.

FXE Short Straddle:

source: tastyworks
As always for short straddles, my profit target is 25% of max profit ($74 per one lot), so I'm going to close this straddle, when it trades for $2.21.

Have a nice day,
Stephan Haller

Legal disclaimer: These are not trade recommendations. Options involve risk and are not suitable for all investors. The trades shown above are for educational purpose only.