Cabot Options Institute Earnings Trader – Alert (SBUX)
Starbucks (SBUX)
I will be exiting the Starbucks (SBUX) trade today. I will discuss the trade in greater detail in our subscriber-exclusive webinar at noon ET today, February 3. Register here.
Here is the trade:
Simultaneously:
Buy to close SBUX February 10, 2023, 120 calls
Sell to close SBUX February 10, 2023, 125 calls
Buy to close SBUX February 10, 2023, 100 puts
Sell to price SBUX February 10, 2023, 95 puts for roughly $0.35 or $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 (or tested spread) 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.