MU – 10/18/18 – Look Back Trade

On 10/18 we entered into a Broken Wing Iron Condor trade on MU. Because of the design of the trade we ended up with no risk to the upside and a pretty good maximum profit range.

We used the 41/37 Puts and the 42/23 Calls to build our Broken Wing Iron Condor for about a $1.52 credit per contract to open. Our max risk was the spread on our Puts or $4.00 per contract.

On 11/8 our GTC order was hit and we made about $.43 per contract or 10.75% on our risk.

We always put in a GTC order to close these early, which greatly increases our chance of a profitable trade.

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