This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: Salesforce.com / CRM
Option Strategy: Iron Condor
Trade entry date / price: 01 May 2020 / $156.00
Price at this post: $167.50
Reasoning: Our upside stop has been triggered, so we're going to close the trade here to avoid further loss.
Closing Trade Details:
BTC 1 CRM 15May20 170 call
STC 1 CRM 15May20 175 call
BTC 1 CRM 15May20 140 put
STC 1 CRM 15May20 135 put
For a max net debit of $1.60 per contract (GTC order, limit order). The mid is currently at $1.58 and I was filled at $1.60.
Analysis:
Max Risk: $425
Max Reward: $75 or 17.6% with CRM trading between $140 and $170 by May 15th
Profit Range: CRM between $139.50 and $170.50 by May 15th
Commission (round trip): $15
Realized Profit / Loss: ($85) pre-commission
Suggested upside stop: $165
Suggested downside stop: $144
