Cabot Options Institute Quant Trader – Alert Russell 2000 (IWM)
Russell 2000 (IWM)
After being tested on the upside and downside over the past month, we finally have an opportunity to close our October 20, 2023 iron condor in IWM for a nice profit. For those of you that wish to hold on for greater profits, please make sure you are fully aware of the risks.
We have now locked in 35/40 winning trades over the past 16 months for a better than 165% return.
The Trade
Simultaneously:
- Buy to Close IWM October 20, 2023, 199 call strike
- Sell to Close IWM October 20, 2023, 204 call strike
- Buy to Close IWM October 20, 2023, 169 put strike
- Sell to Close IWM October 20, 2023, 164 put strike … for a total of $0.19. (As always, the price of the spread can vary from the time of the alert, so please adjust accordingly.)