This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: Amazon / AMZN
Option Strategy: Reverse Iron Condor
Trade entry date / price: 15 Nov 2019 / $1749
Price at this post: $1861
Reasoning: While AMZN has moved up nicely, it didn't happen soon enough. We're going to close the call portion of the trade here and let the put portion expire worthless.
Trade Details:
STC 1 AMZN 27Dec2019 1900 call
BTC 1 AMZN 27Dec2019 1905 call
For a min net credit of $0.35 per contract (GTC order, limit order). The mid is currently at a credit of $0.35. I was filled at $0.35.
Analysis:
Max Risk: $70
Max Reward: $425 or 567% by Dec 27th with AMZN under $1595 and over $1905
Profit Range: AMZN under $1599 and over $1901 by Dec 27th
Realized Profit / Loss upon fill: ($35 or -50% (pre trade commissions)
Commission (round trip): $9
