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$AZO Stock sits Idle for Iron Condor Traders
It was another solid week trading Autozone ($AZO). This was the 2nd week in a row that the volatility warranted the risk for an Iron Condor trade. Implied volatility came in a little so we tightened up our strikes on both the upside and downside to collect enough premium to offset our risk. Our Time […]
It was another solid week trading Autozone ($AZO). This was the 2nd week in a row that the volatility warranted the risk for an Iron Condor trade. Implied volatility came in a little so we tightened up our strikes on both the upside and downside to collect enough premium to offset our risk.
Our Time Bandit Options Trading Service subscribers were able to collect about $1.85 per Iron Condor option spread.
Option Traders entered the spread on March 15th, and let the option spread expire on March 23rd. Subscribers bought the 610 puts and and 682.5 calls and sold the 620 puts and 672.5 calls.
We had the short put strike just below the 200 day moving average(blue line in chart below) and this should have acted as support if tested.
On Friday March 23rd,the overall market had a pretty large sell off so it was a bonus that this stock stayed within its range!
Option traders locked in 100% premium collection profit!
