Stock / Symbol:Nasdaq 100 / NDX
Option Strategy: [private_monthly]iron condor[/private_monthly]
Price at trade post: $2936
Reasoning: With 35 days till Jul expiration, I'm putting on an [private_monthly] iron condor[/private_monthly] on NDX. We've got an expected deviation of[private_monthly] +/- 160 points between now and July expiration; but with how volatile this market has been, I'm accounting for a deviation range of +/- 260. [/private_monthly] The trade's greeks are: 0.22 delta, 7.7 theta, and -37 vega. The probability of success on this trade is 90%.
Trade Details:[private_monthly]
STO -1 NDX Jul13 3175 call
BTO 1 NDX Jul13 3200 call
STO -1 NDX Jul13 2675 put
BTO 1 NDX Jul13 2650 put
for a min net credit of $1.70 per contract. (day order, limit order). The current mid is $1.85. If not filled today, it's ok to try again tomorrow.
Requirements:
Cost/Proceeds ($170)
Option Requirement $2,500
Total Requirements $2,330
Estimated Commission $6
[/private_monthly]
Max Risk: $2,330
Max Reward: $170 or 7.3%[private_monthly] between $2675 and $3175[/private_monthly] by Jul 19[private_monthly]
Profit Range: [private_monthly]$2675 to $3175 by Jul 19[/private_monthly]
Suggested Upside stop: @ $3065
Suggested Downside stop: @ $2810
[/private_monthly]
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