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Ironcondor

Monthly Income Series IWMOur IWM has been sideway for many months. In view of market situation currently, we should have a last wave of uptrend and the heading south. So for now, I will still stand my view for IWM as slight uptrend will stronger sideway for short term view. From the chart, as usual i will most based on my Ta analysis, by drawing channel trend line, as well as Fib Retracement which has proven it work for IWM for the past 4-5 months. While i am waiting my previous monthly income series analysis on IWM, to expect IWM July options to expire OTM in 2 weeks time, with next monthly options August options DTE in around 40 days time, i would like to enter my trade on IC on IWM on below: STO Bear Call Spread 145/147 STO Bull Put Spread 135/133 forming IronCondor for Aug options @ $0.64, with BPE a contract of $141 with DTE 42 at the point enter, it worked out a good ROI per day.
AMEX:IWM
by DavidCkChoo
OPENING: SPY SEPT 1ST 238/241/249/251 IRON CONDOR... for a .95 credit. I really wanted to go with the highest implied volatility broad index exchange-traded fund (SPY, IWM, QQQ, DIA), 45 days until expiration, but the bid/asks were wide on both IWM and QQQ in the Sept 1st expiry, so went with SPY instead, which had a much tighter bid/ask. The short options here are set up around the 30 delta, so I'm somewhat surprised at the low probability of profit metric, which ordinarily would be around 50% ... . Will look to take profit at 50% max. Metrics: Probability of Profit: 43% Max Profit: $95/contract Max Loss: $205/contract Break Evens: 240.05/249.95 Delta: -2.57 Theta: .88
AMEX:SPY
by NaughtyPines
OPENING: IBM JULY 28TH 145/148/160/162.5 IRON CONDOR... for a 1.10 credit. It announces earnings today after market close. Metrics: Probability of Profit: 54% Max Profit: $110/contract Max Loss/Buying Power Effect: $190/contract Break Evens: 146.90/161.10 (Wide of expected move, both sides) Delta: .37 Theta: 6.08 Notes: The strikes were pesky on the call side. It was either go five-wide or 2 1/2 wide on the call side. I opted for going narrower, as long as I could keep my break evens outside the expected move. Will look to take profit at 50% max.
NYSE:IBM
by NaughtyPines
Iron Condor on KREEntered an Iron Condor in KRE (Regional Bank ETF) on June 26th to try to strangle the price between 50.00 and 56.00 for 71 cents in credit. Break even in the trade is below 49.29 and on the high side above 56.71. Two days after the trade the Fed came out passing all banks that were involved in stress tests giving them a green light to add to dividends and start buy backs. The news gaped KRE up very close to the sold call side and has fallen since into a more comfortable range. Plenty of time for this Option to play out and I will be looking to take 50% ($0.355) of the Premium as soon as possible. Original assumption was neutral, now neutral with a co-mingling of bearishness.
AMEX:KRE
by Turbo_Tech
1
TRADE IDEA: QQQ AUG 18TH 127/130/145/147 IRON CONDORThe Q's have the highest implied volatility rank among the four major index exchange traded funds. That being said, I generally look to bring in one-third the width of the widest wing with these with the short options set up at the 20 delta, and I'm not getting that here, so it's less than ideal ... . The metrics: Probability of Profit: 62% Max Profit: $69/contract Max Loss/Buying Power Effect: $231/contract Break Evens: 129.31/145.69 Theta: .82 Delta: -1.78 Notes: Look to manage at 50% max. For an undefined risk alternative, go with the 130/145 short strangle, which pays 1.86 at the mid and has a probability of profit of 68%, BE's at 128.14/146.86, theta of 3.84, and a delta of 1.89.
NASDAQ:QQQ
by NaughtyPines
TRADE IDEA: COST JULY 21ST 155/158/175/178 IRON CONDORAfter news of AMZN's acquisition of WFM, COST's implied volatility has popped here, with its implied volatility rank ramping up to the 67th percentile over the preceding 52-week period, and with background implied volatility at 21%, making a premium selling play potentially worthwhile. Metrics: Probability of Profit: 64% Max Profit: $93/contract Max Loss/Buying Power Effect: $207/contract Break Evens: 157.07/175.93 Theta: 1.96 Delta: -2.47 As an undefined risk alternative, the July 21st 150/175 short strangle is going for 2.35 at the mid with a probability of profit of 71%, BE's at 155.65/177.35, theta 8.85, delta -3.91. Notes: Because I could potentially see this snapping back to the upside, you may want to skew the setup to the call side, narrow the call side spread to reduce call side risk, or otherwise put on a limited upside risk play (e.g., July 21st 160/173/175 Jade Lizard, 1.95 credit at the mid, BE's at 158.05/174.95). With the Jade Lizard, upside risk is limited to .05 (the width of the call side spread (2.00) minus the credit received (1.95) ... .
NASDAQ:COST
by NaughtyPines
OPENING: EWZ JULY 21ST 26/28/38.5/40.5 IRON CONDOR... for a .61 credit. With EWZ caving heftily here and implied volatility popping, I'm going back to the Brazilian well narrow and small, since I can foresee this having some volatility in it for a bit, in which case I may want to add to the position. Metrics: POP%: 63% Max Profit: $61/contract Max Loss/Buying Power Effect: $139/contract BE's: 27.39/39.11 Theta: .69 Delta: .7 Notes: I'll look to take this off at 50% max ... .
AMEX:EWZ
by NaughtyPines
Monthly Income Series - IWM Iron CondorIWM Last month our Iron Condor has expired worthless after the repair and gain the full profit for the 3rd consecutive month, except with repaired commission cost. This month, IWm again looks to be positioned nicely in side way, but volatility is higher this time. So trade with care, and prepare to repair anytime, do ensure we only trade up to 10% of our margin and leave with lenty of spare cash for repair. This month i would like to go for Iron Condor 143/145 Call 131/129 Put for premium around $0.36 for options DTE in 25 days. DYODD.
AMEX:IWM
by DavidCkChoo
OPENING: IWM JUNE 16TH 128/131/141/142 "DOUBLE DOUBLE"This is basically an iron condor variation where you double up the number of contracts on the call side while going narrower with the call side spread. Due to "the math" of that, there is no additional buying power effect, but you collect some additional credit ... . Metrics: Probability of Profit: 57% Max Profit: $76/contract Max Loss/Buying Power Effect: $224/contract Theta: 1.59 Delta: -.68 Notes: Will look to take off at 50% max.
AMEX:IWM
by NaughtyPines
Sell TGT Iron Condor May 52.5/47.5P, 58.5/62.5CTGT is having earning call on May 17, the same day as the May option expiration. I expect TGT will go side way before then. So I setup the Iron Condor to catch some money before then. Aim to close the position before May 17th. drive.google.com Positoin: Put: -1x52.5/1x47.5 Call: -1*58.5/1x62.5 Breakeven: 51.67 to 59.33 PoP: 72% Premium: 0.8$ Target Goal: 0.4$ (50% of the premium). This position is to be closed before May 17th, the earning date.
NYSE:TGT
by rockgy