Short 39.5 Call
Short 39.5 Put
Long 38.5 Put
Total credit of 1.15 per contract.
70.5% probability of profit
Step 1: Closed the Vertical Put spread for almost the full profit (88% of max profit) $0.56 per contract.
Step 2: Roll the 39.5 Call forward to extend duration --> 38 Days to expiration and collected an additional $0.31 per contract.
Step 3: Sold the 39.5 Put (38 DTE)for $0.35 to make it a Straddle.
Here are our new Break even:
We have collected in total $2.65 and our break even now is at $42.16. We need price to stay between 41.5 and 39.5.