Cabot Options Institute Earnings Trader – Alert (AXP)
American Express (AXP)
I will be exiting the American Express (AXP) trade today. I will discuss the trade in greater detail in our upcoming weekly issue.
Here is the trade:
Simultaneously:
Buy to close AXP October 27, 2023, 160 calls
Sell to close ACP October 27, 2023, 165 calls
Buy to close AXP October 27, 2023, 140 puts
Sell to close AXP October 27, 2023, 135 puts for roughly $0.50 per iron condor.
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.