Option Traders Bank Premium in $PCLN Jan 26th

In our Time Bandit Option Trading Service service that focused on premium collection through the Iron Condor option strategy… we discussed using Priceline ($PCLN) for a potential option trade.

In PCLN we discussed the 1842.5-1997.5 Iron Condor.  This uses the wings that are 10 dollars on either side for the respective option.

So we bough the 1832.5 Puts and 2007.5 Calls and sold the 1842.5 Puts and 1997.5 Calls.

This brought in a nice premium of about $1.90 and allowed us to go a little wider than normal.

As you can see from the chart below the stock stayed within the range from Jan 18th to the 26th so we were able to collect the full premium.

So for each contract that was traded you would have collected the full $190.

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