INTC – 9/11/18 – Broken Wing Iron Condor
Entered this trade on 9/11 with no upside risk thinking there would be more chance of a move up after a hard move down. Implied Volatility was 46 and I was showing a 64.20% probability of success.
This was a counter trend or contrarian bet that INTC would not continue down without finding buyers willing to get in at a steep discount.
The overall market made some major moves down so I moved my initial GTC order up to try and get out of this trade with as much profit as possible.
When I entered this trade I had a risk of $88.00 and a potential profit of $112.00. I closed the trade on 10/15 for a profit of $22.00 or about 25% over 34 days.
| Date | EXP | Strike | Price | Ct | C/P | Cost | Balance | |
| 09/11/18 | SO | 10/19/18 | $45.00 | $1.75 | 1 | C | $175.00 | $175.00 |
| 09/11/18 | BO | 10/19/18 | $46.00 | $1.22 | 1 | C | -$122.00 | $53.00 |
| 09/11/18 | SO | 10/19/18 | $45.00 | $1.14 | 1 | P | $114.00 | $167.00 |
| 09/11/18 | BO | 10/19/18 | $43.00 | $0.55 | 1 | P | -$55.00 | $112.00 |
| 10/15/18 | BC | 10/19/18 | $45.00 | $0.72 | 1 | C | -$72.00 | $40.00 |
| 10/15/18 | SC | 10/19/18 | $46.00 | $0.28 | 1 | C | $28.00 | $68.00 |
| 10/15/18 | BC | 10/19/18 | $45.00 | $0.60 | 1 | P | -$60.00 | $8.00 |
| 10/15/18 | SC | 10/19/18 | $43.00 | $0.14 | 1 | P | $14.00 | $22.00 |
| Profit of: | $22.00 |
