Stock / Symbol: Light Sweet Crude Oil Futures, Jan 2016 / CLF16 (/CLF6 in Think or Swim);
Option Strategy: iron condor;
Trade entry date / price: 2 Dec / $40.40
Price at trade exit: $35.92;
Action: Closing out the trade this morning. There is very little risk of the call ending up ITM when the Jan 2016 contract expires 5 days from now but there's a real chance the 35 put ends up ITM. Be sure to buy these back by 2:30 pm EST today as they stop trading then. Upon closing, we'll have booked around a 5% return in 14 days.
Trade Details:
BTC -1 /CLF6 1/1000 Jan16 35 put
STC 1 /CLF6 1/1000 Jan16 33 put
BTC -1 /CLF6 1/1000 Jan16 47 call
STC 1 /CLF6 1/1000 Jan16 49 call
At the market. The Current ask is $0.12
Max Risk: $1790 (filled at $0.21 credit)
Max Reward: $210 or 11% [private_monthly]between 35 - 47 by 16 Dec
Profit Range: $35.60 to $44 by 16 Dec
Suggested Downside stop: @ $36
Suggested Upside stop: @ $46
Profit / Loss upon fill: $90 or 5% (pre-commission)
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