Stock / Symbol: Russell 2000 ETF / IWM
Option Strategy: Iron Condor
Trade entry date / price : 12 Nov 2019 / $159.08
Price at this post: $158.80
Reasoning: With our position already at 82% of it's max profit potential, we're going to see if we can book this win now. Current Greeks are: -2.6 delta, 3.0 Theta and -1.90 Vega. We're just closing out the short call and put, and using a GTC order as it may take beyond today to get filled.
Closing Order Details:
BTC 1 IWM 22Nov2019 162.5 call
BTC 1 IWM 22Nov2019 153.5 put
at a max net debit of $0.08 / contract (GTC order, limit order).
Analysis:
Max Risk: $266
Max Reward: $34 or 12.8% by Nov 22nd with IWM between $153.5 - $162.50
Profit Range: IWM between $153.5 - $162.50 by Nov 22nd
Profit / Loss upon fill: $26 or 9.8% (pre commissions)
Estimated Commission (round trip): $9
