September 13, 2023

I’ve decided to lock in profits on my October 20, 2023, SPY iron condor. With 37 days left until our iron condor is due to expire, I want to eliminate all risk and simply lock in some profits. This brings our total returns in Quant Trader to just under 160% since introducing the service 16 months ago.

Russell 2000 (IWM)

If you wish to hold on to the trade please be aware of the risks.

Here is the trade.

Simultaneously:

Buy to Close SPY October 20, 2023, 470 call strike
Sell to Close SPY October 20, 2023, 475 call strike
Buy to Close SPY October 20, 2023, 390 put strike
Sell to Close SPY October 20, 2023, 385 put strike … for a total of $0.25. (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 Senior Analyst at Cabot. 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.