Got it. Thanks Coach. How is the size defined? Is it by contracts? ie., 100 DNT SPX 1430/1580? Also, what is the minimum size, and roughly what would the premium be on that trade?
I hope I'm not the only one here who doesn't fully understand this trade. Risk, if you find the time can you go over it piece by piece. I assume the SPX can't touch either 1430 or 1580 prior to 8/24. Is the premium 130K, and the payout 250K?