Instrument:
Notes: Looking to enter this trade early next week once $ES_F validates bearish candlestick pattern from Thursday's price action.  Buying (1) 825 call, selling (2) 850 calls, and buying (1) 900 call for a net credit of $7.50 per butterfly. The goal being to capture some of the downside price action while giving myself some breathing room on the upside. And should the bottom fall out (which I don't think will happen as long as Goldman keeps buying LOL) I'll still show a profit. Jun expiration breakeven is 908.  Will make money on the downside at any point, but max profit of almost $1000 per butterfly traded will be at short strike 875. Below 900 at expiration my worst case profit will be $375 per butterfly traded. If $ES_F trades decisively above 900 at any point in the next few weeks I'll close this trade at a small loss.  If we should see a volatility spike due to a pronounced downward move, this trade will be unaffected.