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Iron Condor Traders Cash in $AMZN
Premium collection through the Iron Condor Option Trading strategy can be very lucrative but with that potential reward there is always risk. This past week in our Time Bandit Option Trading Service that focuses on Iron Condors, we chose to analyze Amazon($AMZN). The iron condor option strategy that we looked at was the 1477.5-1637.5. This […]
Premium collection through the Iron Condor Option Trading strategy can be very lucrative but with that potential reward there is always risk. This past week in our Time Bandit Option Trading Service that focuses on Iron Condors, we chose to analyze Amazon($AMZN). The iron condor option strategy that we looked at was the 1477.5-1637.5.
This means that we bought the 1467.5 puts and 1647.5 calls to protect against selling the 1477.5 puts and 1637.5 calls.
Our subscribers entered this trade on May 3rd for the May 11th expiration with stock around the $1,553 level.
Traders were able to get about $1.65 premium collection per spread.
The straddle was trading about $54 and our strikes were $76 away to the downside and $84 to the upside. This gave a good room for the stock to move around outside of the expected move.
The stock cooperated and sat within the range without ever testing either short strike.
Iron Condor subscribers collected $1.60 or $160 per spread entered.
