Please ensure Javascript is enabled for purposes of website accessibility
Earnings Trader
Collect the Biggest Option Payouts Every Quarter

August 3, 2023

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.

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.


Andy Crowder is a professional options trader, researcher and Senior Analyst at Cabot. Formerly with Oppenheimer & Co. in New York, Andy has leveraged his investment experience to develop his statistically based options trading strategy which applies probability theory to option valuations in order to execute risk-controlled trades. This proprietary strategy has been refined through two decades of research and real-world experience and has been featured in the Wall Street Journal, Seeking Alpha, and numerous other financial publications. Andy has helped thousands of option traders learn and implement his meticulous rules-driven options trading strategies through highly attended conferences, one-on-one coaching, webinars, and his work as a financial columnist. He currently resides in Bolton Valley, Vermont and when he’s not trading, teaching and writing about options, he enjoys spending time with his wife and two daughters, backcountry skiing, biking, running and enjoying all things outdoors.