$CAG Iron Condor
Buy: 10/18 32c for .27
Sell: 10/18 31c for .49
Sell: 10/18 27p for .47
Buy: 10/18 26p for .28
Net Credit: $0.41 (Max profit if all expire worthless)
Buying Power Reduction: -$0.59 (Max loss on blowout)
Profit Range of $26.59 - $31.41 w/ 55% POP at expiration
... for a .10 ($10) debit on this rapid down move.
Still have the October 28th (28 days) 1445/1455 short put vertical (the other half of the iron condor), as well as the November 25th (56 days) 1595/1605 short call vertical on, which I put on as a delta hedge.
Scratch now at 2.60 (2.70 minus the .10 debit I paid to take off the call side).
,,, for a .40 ($400) debit.
Notes: The last of my October setups. It's a loser, but I'm up small for the cycle by $40, which I'm more than happy with given that mid-September spike we had pretty much right after I put on the setup of which the 60/61 short call vertical was part.
... for a .21 ($210) credit.
Notes: Layering on some more in the November cycle at the 15 deltas after this down move. You know the drill: layer on, mix and match profitable sides to close, shoot to exit the cycle profitably.
... for a .21 ($210) credit.
Max Profit: $210
Max Loss: $790
Buying Power Effect: $242
Break Evens: 50.79/69.21
Notes: Starting the November cycle run at 53 days 'til expiry with the same drill as October: layer on, mix and match sides profitably, look to exit cycle in its entirely profitably.
... for a .13 debit/.08 ($80) profit.
Notes: Mixing and matching /CL short verticals put on over time in the October cycle profitably. This leaves one iron condor on in the October cycle -- the 52.5/53.5/60/61 with a scratch point for the cycle at .44.
... for a $170/contract credit.
Max Profit: $170/contract
Max Loss: $830/contract
Break Evens: 52.83/74.67
Notes: With background IV at 47.7%, layering on some more in the October cycle. Will treat this as a core position, mixing and matching October cycle short put sides with short call sides where profitable.
I put on a great iron condor position on Wayfair
W - Expiry October 18 , 140C/145C/105P/100P
Such a nice spread, Love it.
Price of spread was $145 spread is 5 points
I bought 2 of them. Max gain $190 max gain max loss is $380
Market is move bullish than bearish right now may persist till end of month.
... for a 2.30/contract credit.
Max Profit: $230/contract
50% Max: $115/contract
Max Loss: $770/contract
Break Evens: 46.77/60/23
Notes: A little premium selling in /CL on this OVX pop. Shorties camped out at the 15 deltas. Will look to manage at 50% max, side test, and or side approaching worthless ... .
Going QQQ "double double" in the smaller accounts ("doubly" wide on the put side as the call, double the contracts on the call side to accommodate skew), 16 delta put side, 8 delta call side. Set up in the expiry in which the at the money short straddle is paying greater than 10% the value of the underlying ... .
Max Profit: $113/setup ($56 at 50%...
... for a 2.21 credit.
Max Profit: $221/contract
50 Max: $110/contract
Max Loss/Buying Power Effect: $1279/contract
ROC: 17.3% at Max/8.6% at 50 Max
Break Evens: 1342.79/1687.21
Notes: A small, defined, high POP%-age engagement trade. This particular trade isn't very "tasty," since it goes out beyond that 45 days 'til expiry...
Sold the short iron condor as follows
Sold the 117 calls, Bought the 118 calls
Sold the 110 puts, Bought the 109 puts
Exp this Fri, 7/5.
1.7% outside the top bollinger, needs to just consolidate here or even some profit taking into the holiday is expected
Shooting star on the daily is forming, clear profit taking since the open
.786 fib resist is...
Citibank has been trading within a horizontal range and sideways channel between 65.50 and 69 for the past fourteen trading days. Because of this, we are shorting the iron condor by writing the 69 calls and 65.5 puts for the initial strangle, and going half a dollar out on each side to acquire the protection (longing the 69.5 calls and 65 puts), thus turning the...
Instead of selling a short strangle, it's better to buy some OTM contracts at next to nothing to make the trade efficient in terms of buying power. The breakeven points on the trade aren't GREAT, but, the trade is pretty low risk. If it works, great and if not, hey, we'll get 'em next time.
This nearly ATM July 5th IC on McDonald's is technically driven. For the past 10 trading days, MCD's open and closes have both stayed within the parallel channel range of 203.73 and 206.16. With a great risk/reward ratio, we are entering into a short iron condor on the July 5th contracts, 8 trading days away, with a maximum profit of 147 with a mere, limited max...
... for a 1.64/contract credit.
Max Profit: $164/contract
Max Loss: $836/contract
Break Evens: 1338.36/1681.64
Notes: Granted, this is not a very TT setup, which ordinarily looks to collect one-third the width of the strikes in credit in the expiry nearest 45 days 'til expiration, which generally requires selling the 20-30 delta...
AMD is moving sideways had a very powerful move recently and now it's moving sideways could not break it's previous high so now it will do a congestion test sideways and may move higher. Watching to see if it breaks channel if it does may put on an iron condor or a call spread(maybe)