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Quant Trader
Expert-Level Options for Sophisticated Traders

November 28, 2022

Cabot Options Institute Quant Trader – Alert (IWM)

iShares Russell 2000 ETF (IWM)

With 18 days left until expiration and our IWM iron condor worth $0.24, I want to go ahead and lock in some nice profits. We sold the iron condor for $0.75 just 13 days ago and are now able to lock in over 10% on the trade. If you choose to hold on to the trade, please be aware of the risks.

The Trade


  • Buy to close IWM December 16, 2022, 200 call strike
  • Sell to close IWM December 16, 2022, 205 call strike
  • Buy to close IWM December 16, 2022, 162 put strike
  • Sell to close IWM December 16, 2022, 157 put strike…for a total of $0.24. (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 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.