Friday, June 19, 2009 Intercept North Korean Nuclear Ship: Winning Straddles for July

Fox News reports that the US is sending a destroyer to intercept a North Korean ship suspected of carrying nuclear cargo. Whether this is just irresponsible reporting or whether sparks do indeed fly over the weekend, stocks are still significantly overbought and are due to come crashing.

Here are the current strangles that can become quite profitable for July:

XLF is at a sweet spot at a point equidistant from strikes. SPY requires the lowest maximum move. IWM is my favorite, liquid, easy to and fast to trade, and difficult to manipulate.

Computed with our StraddlesCalc tool.

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