ULTA Iron Condor SpreadIV is pretty high on ULTA after the drop and its trending well, there are a few false breakouts and RSI is rising. Looks like a good play.
2x Iron condor spread 200/205/275/280
Credit collected as $144 deltas were 0.33 and 0.2 on the options sold
I plan to take my profit at 30% max credit since the IV isn't that high for this to be a 50% max credit trade and deltas are pretty close and low probability.
Max gain will be $90.
Max loss will be $288.
