Stock rally through till early 2018. Choppy price action with range-bound price through remainder of 2018 indicates large volume
of shares exchanging hands (in other words, for a better mental picture, larger holders off-loading to more interested but smaller buyers). Expectation is neutral price discovery, with earnings
report in January catalyzing subsequent direction move, which is typically bearish/downward with such price action. For now, price is attempting to find a fair value, and as such a bearish-neutral bias is bet on here.
85/90/115/120 JAN19 IRON CONDOR @ 0.67 CREDIT
Roll if necessary & if possible mainly to reduce risk, expecially in this case due to earnings
report date before expiration
Target maximum profit, unless significant profit appears early.
Comment or direct message for discussion, or on other interesting ideas!
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