INTC – 9/11/18 – Broken Wing Iron Condor

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

 

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