In our Time Bandit Option Trading Service we covered Priceline ($PCLN) Iron Condor Option Strategy.
The details were :
Priceline (PCLN) sell the Dec 29th, 2017 Expiration (29DEC17) 1737.5-1812.5 Iron Condor for ~$2.20 with stock around $1,783.77
This broke down like this:
Buy the 1727.5 Put
Sell the 1737.5 Put
Sell the 1812.5 Call
Buy the 1822.5 Call
The entire week seemed to go pretty smooth until the last trading day of year, especially the last 10 minutes of the trading day.
We sold the Iron Condor for $2.20,so we had a little room on this one, but moes like this still make any trader second do a double take at the screen.
The first image below is the Iron Condor Range and trade date. The 2nd chart is expiration Friday and the selloff down to our short strike. The last 30 minutes saw the stock drop from $1,745.10 down $7.69. In the last 10 minutes of the day the stock fell from $1742.06 to a low of $1,737.41 or $4.65 of the $7.69. There was market pressure and PCLN was down all day. There was also end of year maneuvering going on so we expected a little bit of volatility. In the end, we picked a good support level and it held. Subscribers realized 100% of their premium collection of $2.20 for each Iron Condor that they traded.