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 this Friday, May 5. Register here.
Here is the trade:
Simultaneously:
Buy to close SBUX May 12, 2023, 123 calls
Sell to close SBUX May 12, 2023, 128 calls
Buy to close SBUX May 12, 2023, 105 puts
Sell to close SBUX May 12, 2023, 100 puts for roughly $0.45 per iron condor (adjust accordingly, prices may vary from time of alert).
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 feel free to email me at andy@cabotwealth.com.