Stock / Symbol: Apple / AAPL
Option Strategy: iron condor
Trade entry date: Jan 24
Price at trade entry: $423.17
Update: We got the pop we expected from AAPL. As long as AAPL stays above $440 by Friday's close, the call spread portion of the trade will be worth $5.00 and the put spread portion will expire worthless. This scenario gives us a max return of 38% in 3 days time. We're now entering a GTC order to close the call spread for $4.90 per contract. Also, if AAPL trades at or below $440 at any point, we'll stop ourselves out of the trade.
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
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