Stock / Symbol: Chipotle Mexican Grill / CMG
Option Strategy: [private_monthly]iron condor[/private_monthly]
Trade entry date: Apr 19
Price at trade entry: $432.44
Price at this post: $424.50
Reasoning: Didn't get our expected move following CMG's earnings. Closing the trade here to limit losses.[/private_monthly]
Trade Details:
[private_monthly]
STC 1 AprWk4 445 call
BTC -1 AprWk4 450 call
STC 1 AprWk4 420 put
BTC -1 AprWk4 415 put
for a net credit of $1.90 per contract (current bid $1.45 / ask $2.45) (day order, limit order)
*IMPORTANT: If you have not exited this trade by 3pm EST today, adjust your ask price down until you get filled
[/private_monthly]
Max Risk: $350
Max Reward: $150 or 42% by Apr 27
Profit Range: $0 to $415 and $450+ by Apr 27
Suggested Stop @: between $420 and $445 on/after Apr 20
Realized Profit / Loss upon fill: ($160)
Non-members, click here for access
Speak Your Mind