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Iron Condor Traders Collect Max Profit in $BKNG
In this weeks stock analysis in the Time Bandit Option Trading Service we found a great Iron Condor in Bookings ($BKNG). An Iron Condor take advantage of time and options decay and the lack of movement in a stock. We analyzed the trade on May 31st for the June 8th expiration. The stock was trading […]
In this weeks stock analysis in the Time Bandit Option Trading Service we found a great Iron Condor in Bookings ($BKNG). An Iron Condor take advantage of time and options decay and the lack of movement in a stock. We analyzed the trade on May 31st for the June 8th expiration. The stock was trading around $2,112. The stock proceeded to run as high as $2,157.16 yesterday(6-7-18) on the open but sold off with the rest of the big names in the NDX.
The iron condor we choose gave us plenty of room(this week) in both directions. We analyzed the 2050-2180 Iron Condor option strategy for June 8th. This meant that subscribers bought the 2040 put and 2190 call and sold the 2050 put and 2180 call. Total premium collected was about $1.60 or $160 per each spread entered. We had the 50 SMA trading below our price at $2,104.85 to give us a little support and the stock never looked back.
As you can see below we had a pretty strong run in BKNG since it was analyzed in our webinar.
As the stock close at expiration, our subscribers were able to collect the max profit in BKNG this week! For each spread that they entered they walked away with $160 less execution costs.
