Opening: QQQ August 26th 255/316 Short Strangle

... for a 5.87 credit.

Comments: Selling the 17 delta strikes on both sides. 5.87 credit on buying power effect of 28.92; 20.3% ROC as a function of buying power effect; 10.1% ROC at 50% max. Will adjust on delta/theta skew out to >1.0.