EWZ Iron Condor – 9/4/18

EWZ – 9/4/18 – Iron Condor

Saw a quick opportunity to get into a high probability trade on EWZ. The implied volatility looked good and the chart supported my short positions.

On 9/4 I sold the 10/19 $37 Call and purchased the $40 Call to cover it. At the same time I sold the 10/19 $27 Put and purchased the $23 Put to finish up the condor with EWZ trading at $31.36. I had a pretty good profit zone and everything worked out great when the trade hit my GTC on 9/19, just 15 days later.

I finished with a profit of $44.00 on an initial risk of $311.00 or about 14% return. EWZ was trading at $32.73 when I closed.

Date   EXP Strike Price Ct C/P Cost Balance
09/04/18 SO 10/19/18 $37.00 $0.54 1 C $54.00 $54.00
09/04/18 BO 10/19/18 $40.00 $0.21 1 C -$21.00 $33.00
09/04/18 SO 10/19/18 $27.00 $0.74 1 P $74.00 $107.00
09/04/18 BO 10/19/18 $23.00 $0.14 1 P -$18.00 $89.00
09/19/18 BC 10/19/18 $37.00 $0.37 1 C -$37.00 $52.00
09/19/18 SC 10/19/18 $40.00 $0.07 1 C $7.00 $59.00
09/19/18 BC 10/19/18 $27.00 $0.18 1 P -$18.00 $41.00
09/19/18 SC 10/19/18 $23.00 $0.03 1 P $3.00 $44.00
Profit of: $44.00

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