Stock / Symbol: Google / GOOGL
Strategy: Reverse Iron Condor
Trade entry date / price: 1 Dec 2020 / $1820
Price at this post: $1807
Update / Reasoning: Entering in an exit order here to attempt to capture a quick 10% return. As always, we're using a GTC order as it may take a few days to fill. The current Greeks on this position are: 0.3 Delta, -7.2 Theta, and 13.2 Vega.
Trade Exit Order:
STC 1 GOOGL 24Dec20 1860 call
BTC 1 GOOGL 24Dec20 1870 call
STC 1 GOOGL 24Dec20 1750 put
BTC 1 GOOGL 24Dec20 1740 put
For a min net credit of $6.90 per contract (GTC order, limit order). The mid is currently at a credit of $6.35.
Analysis:
Max Risk: $625
Max Reward: $375 or 60% with GOOGL either under $1740 (or) over $1870 by Dec 24th
Profit Range: GOOGL at/under $1743(or) at/over $1867 at market close on Dec 24th
Estimated Commission (round trip): $5.20
Suggested Stop: position down ($70) or more
Anticipated Profit / Loss upon fill: $65 or 10% (pre commission)
