Many thanks to Mark D., a long time CPTI student and recent seminar attendee, who has uncovered an interesting play. It's conservative with a nice big range (the kind we like), but it's on an underlying we've never used before -- the CME.
It's the Chicago Mercantile Exchange -- you know, the exchange where people trade futures on grains, gasoline and pork bellies.
So, for a , lets:
Total net credit and profit potential of about $1.20 ($1,200). Our maximum profit range is 165 to 230. Maintenance is $10,000. Remember, look to come close to the total net credit. It could be $.50 plus $.70 etc. The above numbers aren't etched in stone. I'm figuring about a nickel negotiation on each bid/ask spread.
Good luck and adjust the number of contracts to your account size.