JPM looks to open the day well within our range of 103 to 120. As a result, I want to take the trade off for a profit. I will discuss the trade further in tomorrow’s subscriber-exclusive webinar.
Here is the trade:
Simultaneously:
Buy to close JPM July 22, 2022, 120 calls
Sell to close JPM July 22, 2022, 123 calls
Buy to close JPM July 22, 2022, 103 puts
Sell to close JPM July 22, 2022, 100 puts for roughly $0.35 or $35 per iron condor (prices will fluctuate, please adjust accordingly if you wish to close trade)
If you are having issues exiting the trade, you can always exit the tested side of the iron condor first (in our case the put side), followed by the untested side. Also, if you choose to hold the trade to seek a greater profit, please be aware of the risks.