Step 1: Identify slightly OTM calls, and slightly ITM puts, with > 14 DTE.

Step 2: Multiply call premium X 2 for spread size. i.e. premium of 11, x 2 = 22, round up, for a 25 point spread. 

             Multiply put premium X 3 for spread size. i.e. premium of 15, x 3 = 45, round up, for a 50 point spread.

Step 3: If flat: Establish iron butterfly using spreads from step 2.  

Step 4: Exit 1 - Stop Loss at 1.3 times spread credit. (Taking 30% loss)

            Exit 2 - Profit Target of .10 times spread credit. (Taking 90% profit)

Step 5: Re-Entry:  Cross and close of 7 period moving average on 15 min bars, return to Step 1 to replace the closed spread.  Model is almost always in market. 

Video to implement these rules: https://zoom.us/recording/play/SAInQSEYVoOSnsmkc8hjWzws1E73jeIIwD9Wp-01VssVp1MBxLN05vrqyKEcek-y?autoplay=true

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