Opening: SMH October 16th 510/520/620/630 Iron CondorVanEck Semiconductor ETFBATS:SMHNaughtyPines... for a 4.20 credit. Comments: High ETF IV at >35. Probably could've gone a smidge wider to give me more room to be wrong and still collect 1/3rd the width of the wings in credit ... . Metrics: Max Profit: 4.20 ($420) Max Loss/Buying Power Effect: 5.80 ($580) ROC at Max: 72.1% ROC at 50% Max: 36.2% ROC at 10% of the Width of the Widest Wing: 17.2% Will generally look to money, take, run at 10% of the width of the wing (i.e., 1.00/$100).