XRT is still about the only ETF with nice premium out there. I went with a synthetic straddle in this case, similar to the smaller Iron Flies I did in the other accounts.
DTE: 53 Max Win: $240 Max Loss: $360 Breakevens: 41.60 & 46.40
Trade Management: I will look to take around 25% out of this trade, or $60. Since the BP used is a small % of the portfolio, I'll likely let this one run to expiration/full loser if that was how it needed to be managed. We'll have to make the case for inversion if we get there.
Green is profit zone; Vertical black bar is expiration.