Opening (IRA): XLP June 18th 60C/January -80C LCD*

... for a 17.88 debit.

Comments: Re-upping here, buying the June 90 delta call and selling the January call that pays for all of the extrinsic in the long.

Metrics:

Buying Power Effect: 17.88
Max Profit: Short Call Strike (80) minus Long Call Strike (60) minus debit paid (17.88) or 2.12 ($212)
ROC at Max: 11.86%
50% Max: 1.06 ($106)
ROC at 50% Max: 5.93%

Will generally look to take profit at 50% max.

* -- Long Call Diagonal.