Cabot Options Institute Quant Trader – Alert (IWM)
Russell 2000 ETF (IWM)
I’ve decided to lock in my second profitable trade for the week. With 28 days left until expiration, I want to take off our July IWM iron condor for a profit. As stated yesterday in our closing alert for the SPY bear call spread, I intend on adding several more positions for the August 18 expiration over the next several trading days.
Here is the trade.
- Buy to Close IWM July 21, 2023, 191 call strike
- Sell to Close IWM July 21, 2023, 196 call strike
- Buy to Close IWM July 21, 2023, 156 put strike
- Sell to Close IWM July 21, 2023, 151 put strike … for a total of $0.50. (As always, the price of the spread can vary from the time of the alert, so please adjust accordingly.)