Iron Condor Traders Book Profits in $BKNG

In our Time Bandit Options Trading Service that focuses on Iron Condors we discussed Priceline ($BKNG).

We have stayed away from this stock for some time because of the name change and trading at all time highs, but the recent pullback has given us a chance to take advantage of the higher implied volatility and support/resistance areas that have been formed.

We choose to enter the 1980-2172.5 Iron Condor to collect roughly $1.70 per option spread.  This was roughly $95 on each side of the stock price.

We felt comfortable with earnings being on May 9th and floor traders pricing in movement of about $65 in either direction.

As you can see from the stock chart below that the stock sold off from our trade date of April 5th, but rallied back to about where we put it on by the April 13th expiration.  This allowed our traders to collect max profit of $1.70 per Iron Condor option spreads that was entered.