Cabot Options Institute Quant Trader: Alert (IWM)
iShares Russell 2000 ETF (IWM)
Well, I think we all knew the time would eventually come. We are going to close out of our February IWM iron condor as it has reached our stop-loss. This marks our first loss since August 11 and only our second since initiating the Quant Trader service back in early June. If you wish to hold, please be aware of the risks. Remember, trading is a marathon, not a sprint.
I am going to continue to hold on to our SPY bear call spread, but that might not be for long if SPY doesn’t pull back over the short term. Also, I will be adding several new positions to the mix tomorrow.
The Trade
Simultaneously:
- Buy to Close IWM February 17, 2023, 195 call strike
- Sell to Close IWM February 17, 2023, 200 call strike
- Buy to Close IWM February 17, 2023, 154 put strike
- Sell to Close IWM February 17, 2023, 149 put strike … for a total of $2.00. (As always, the price of the spread can vary from the time of the alert, so please adjust accordingly.)
If you have any questions, please do not hesitate to email me at andy@cabotwealth.com.