as you have full month expiry ahead so that there is no fear of fast time value erosion.
you have limited your loss for full month expiry ,I thing probability toward win should be more than 80%.
Things to careoff
(1.) certainly time value decay is only part to care off as u paid premium too high .
(2.) chances of volatilty will bullish ahead not 100% sure.hope will not fall below
personally I like this both strategy as much as I hate short straddle and strangle.
i never traded strategy before but i will do certainly
you have limited your loss for full month expiry ,I thing probability toward win should be more than 80%.
Things to careoff
(1.) certainly time value decay is only part to care off as u paid premium too high .
(2.) chances of volatilty will bullish ahead not 100% sure.hope will not fall below
personally I like this both strategy as much as I hate short straddle and strangle.
i never traded strategy before but i will do certainly