Stock / Symbol:Nasdaq 100 / NDX
Option Strategy: [private_monthly]iron condor[/private_monthly]
Trend entry date / price: Apr 17 / $2780
Price at this post: $2836
Reasoning: Just in case AAPL pops tomorrow on tonight's earnings report, I'm going to roll up the call spread portion of this trade. This adjustment will bring the trade's Delta closer to 0 but lower the Theta from 19 to 15.8. The trade's max profit will also be reduced from $535 to around $380 or 17%.
Trade Details:[private_monthly]
BTC -1 NDX May13 2925 call
STO -2 NDX May13 2950 calls
BTO 1 NDX May13 2975 call
for a max net debit of $1.55 per contract. (day order, limit order). The current mid is $1.43. Try for the mid +0.10.
Max Risk: $2,120
Max Reward: $380 or 17%[private_monthly] between $2650 and $2950[/private_monthly] by May 17[private_monthly]
Profit Range: $2650 to $2925 by May 17
Suggested Upside stop: @ $2875
Suggested Downside stop: $2725
[/private_monthly]
Non-members, click here for access
