Stock / Symbol: Russell 2000 / RUT;
Option Strategy: [private_monthly]iron condor[/private_monthly];
Price at trade post: $1252.86;
Reasoning: With just under 3 weeks till June option expiration, I'm putting on a [private_monthly]iron condor[/private_monthly] on RUT. I'm selling the [private_monthly]1300 calls (covering with the 1310's) and selling the 1180 puts (covering with the 1170's) [/private_monthly]. The trade's greeks are currently: -1.6 delta, 8.8 theta, and -23.9 vega. The probability of success on this trade is 90%.
Trade Details:[private_monthly]
STO -1 RUT Jun15 1300 call
BTO 1 RUT Jun15 1310 call
STO -1 RUT Jun15 1180 put
BTO 1 RUT Jun15 1170 put
for a min net credit of $1.05 per contract. (GTC order, limit order). The current mid is $1.10.
Requirements:
Cost/Proceeds ($105.00)
Option Requirement $1000
Total Requirements $895
Estimated Commission $6
[/private_monthly]
Max Risk: $895
Max Reward: $105 or 11.7%[private_monthly] between $1180 and $1300 [/private_monthly] by Jun 19th
Profit Range: [private_monthly]$1180 to $1300 by Jun 19th[/private_monthly]
Suggested Upside stop: $1280
Suggested Downside stop: $1210
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