TBO Social Posts
Iron Condor Traders Bank in $GOOGL
Option traders love the high probability Iron Condor traders when they can find good risk reward scenarios. In our Time Bandit and Time Bandit Pro option trading services we find Iron Condors every week. This week we analyzed Alphabet for the 1170-1267.5 Iron Condor. This trade was able to collect $1.50 in 9 days of […]
Option traders love the high probability Iron Condor traders when they can find good risk reward scenarios. In our Time Bandit and Time Bandit Pro option trading services we find Iron Condors every week. This week we analyzed Alphabet for the 1170-1267.5 Iron Condor. This trade was able to collect $1.50 in 9 days of trading. The return on risk was 17.6% in 9 days.
Some of our option trading subscribers were able to leg out of the trade early as the stock priced moved around.
The trade was for the August 31st expiration. We sold the 1170 puts and 1267.5 calls(red horizontal lines on chart) and bought protective 1160 puts and 1277.5 calls. The total risk between the strikes is $10 less the premium of $1.5 or $8.50 was our maximum risk.
The stock ran up to test our short call strike by getting to a $1,269.49 but we mentioned to subscribers in the forums that we had good resistance at that level. The stock then proceeded to drop off on Friday of expiration to $1,231.80 for max profit.
In the end, Iron Condor traders banked $1.50 per spread or $150 per option contract in share equivalency.
