Cabot Options Institute Quant Trader – Alert (IWM)
iShares Russell 2000 ETF (IWM)
Even with a probability of success that sits just over 80%, we still have 16 days until our IWM March 17, 2023, iron condor is due to expire. Sixteen days doesn’t seem like a lot but in this market environment, it only takes a few days for the Russell 2000 to dip below our 180 put strike. As a result, I’m going to take a conservative approach, and take small profits and all risk off the table today. If you choose to hold on to the trade please be aware of the risks.
- Buy to Close IWM March 17, 2023, 215 call strike
- Sell to Close IWM March 17, 2023, 220 call strike
- Buy to Close IWM March 17, 2023, 180 put strike
- Sell to Close IWM March 17, 2023, 175 put strike … for a total of $0.51. (As always, the price of the spread can vary from the time of the alert, so please adjust accordingly.)