Cabot Options Institute Earnings Trader – Alert (SBUX)
Starbucks (SBUX)
I will be exiting the Starbucks (SBUX) trade today.
Here is the trade:
Simultaneously:
Buy to close SBUX November 11, 2022, 93 calls
Sell to close SBUX November 11, 2022, 98 calls
Buy to close SBUX November 11, 2022, 76 puts
Sell to close SBUX November 11, 2022, 71 puts for roughly $0.80 per iron condor (prices will fluctuate, 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.