Summary: Tony and Katie look for trade opportunities in DE, IWM and SPY. John Deere has been beat up recently with a high IV Rank, so it looks like a perfect opportunity to get long by shorting a Naked Put. However, it takes up more buying power than the team would like, but when they add the purchase of a Put to for a Spread, they find they can't collect enough credit. In IWM, Katie and Tony aim to create a skewed to the upside Iron Condor. It is up to Katie to determine how risky she wants to play it: collect more premium or have a higher Probability of Profit. Katie can adjust these factors by adding more contracts on the put side, going wide or closer to the ATM strikes, and adjusting the width of the spreads. Finally, Tony explains to Katie how little of a difference there is between rolling a strangle that has gone inverted to the same strikes or rolling the inverted strangle to become a normal strangle: the Theta Decay, Buying Power and Delta are essentially the same.
