Stock / Symbol: Apple / AAPL
Option Strategy: iron condor
Trade entry date: Jan 24
Price at trade entry: $423.17
Reasoning: With AAPL trading near the lows of the day, we're going to close the trade here for around a 25% gain. Call us chicken for not going for the full 38%, but we'd rather not risk letting this quick profit get away from us should AAPL trade under $440. We're letting the put spread portion of the trade expire worthless.
Closing Details:
[private_monthly]
STC 1 AAPL JanWk4 435 call
BTC -1 AAPL JanWk4 440 call
for a net credit of $4.50 per contract (GTC, limit order)
Max Risk: $360
Max Reward: $140 or 38%
Profit Range: $0 - $411.50 & $439.25 + by Jan 27
Max Profit at: $0 - $410 & $440 + - 639 by Jan 27
Profit / Loss upon fill: $90 or 25% (pre-commission)
[/private_monthly]
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