AXP looks to open the day within our range of 134 to 157.5 and, per the mechanics of the strategy, I want to take the trade off the table. I will discuss the trade further in today’s subscriber-exclusive webinar, at noon ET.
Here is the trade:
Simultaneously:
Buy to close AXP July 29, 2022, 157.5 calls
Sell to close AXP July 29, 2022, 162.5 calls
Buy to close AXP July 29, 2022, 134 puts
Sell to close AXP July 29, 2022, 129 puts for roughly $0.XX or $XX 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 call 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.