June 23, 2023

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.

Simultaneously:

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.)

Andy Crowder

Andy Crowder is a professional options trader, researcher and Chief Analyst of Cabot Options Institute. Formerly with Oppenheimer & Co. in New York, Andy has leveraged his investment experience to develop his statistically based options trading strategy which applies probability theory to option valuations in order to execute risk-controlled trades. This proprietary strategy has been refined through two decades of research and real-world experience and has been featured in the Wall Street Journal, Seeking Alpha, and numerous other financial publications. Andy has helped thousands of option traders learn and implement his meticulous rules-driven options trading strategies through highly attended conferences, one-on-one coaching, webinars, and his work as a financial columnist. He currently resides in Bolton Valley, Vermont and when he’s not trading, teaching and writing about options, he enjoys spending time with his wife and two daughters, backcountry skiing, biking, running and enjoying all things outdoors.