ConocoPhillips (COP)
I will be exiting the ConocoPhillips (COP) trade today. I will discuss the trade in greater detail in our subscriber-exclusive webinar at noon ET Friday, August 4. Click here to sign up.
Here is the trade:
Simultaneously:
Buy to close COP August 11, 2023, 122 calls
Sell to close COP August 11, 2023, 127 calls
Buy to close COP August 11, 2023, 109 puts
Sell to close COP August 11, 2023, 104 puts for roughly $0.35 per iron condor. (As always, the price of the spread can vary from the time of the alert, so please adjust accordingly.)
If you are having issues exiting the trade, you can always exit the tested side of the iron condor first, followed by the untested side. Also, if you choose to hold the trade to seek a greater profit, please be aware of the risks.
As always, if you have any questions, please do not hesitate to email me at andy@cabotwealth.com.