Closing Trade Alert
Iron Condor: IWM August 19, 2022, 200/195 calls – 145/140 puts
Original trade published on 6-30-2022 (click to see original alert)
I want to close out our IWM iron condor today for $0.34.
Some of you may wish to hold on to the trade and that’s perfectly OK. The probability on the trade stands at over 90% (on both sides), but I’m going to take off my trade, lock in 50% of the original premium sold and move on to the next opportunity. This may be a bit early for some, but with 25 days left until expiration and the ability to lock in 50% of the original premium sold I’ll gladly take the profit (and the risk) off the table and use my capital for other opportunities.
Here’s what you need to do if you want to follow suit:
Simultaneously:
- Buy to close IWM August 19, 2022, 195 call strike
Sell to close IWM August 19, 2022, 200 call strike - Buy to close IWM August 19, 2022, 145 put strike
Sell to close IWM August 19, 2022, 140 put strike…for a total of $0.34. (As always, the price of the spread can vary from the time of the alert, so please adjust accordingly if you wish to exit the position.)