Iron Condor Traders Collect Premium in $BKNG

Option traders should know how to sell options to collect premium at the right times.  In our Time Bandit Options Trading Service we use Iron Condors to collect premium in stocks that we feel will stay within a range for a specific period of time.  This past week we analyzed Booking Holding ($BKNG) for a potential Iron Condor.

We analyzed the June 22nd Expiration 2050-2180 Iron Condor which collected about $1.55 of premium (credit).

This meant that option traders bought the 2040 put and 2190 call and sold the 2050 put and 2180 call for a credit of $1.55.  Each spread brought in $155 when you account for each option controlling 100 shares of stock.

As you can see from the chart below the stock sat within the two short strikes, 2050 put and 2180 call to allow our subscribers to collect the full profit at expiration.

For each Iron Condor option spread that our subscribers put on they collected the full $155 or 100% of the credit.

For more information on using Iron Condors in your Portfolio you can check out our Time Bandit Service!