Iron Condor in AMZN

This topic has 1 reply, 1 voice, and was last updated 11 years, 8 months ago by Steven Place.

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April 28, 2014 at 1:10 pm #2173

Steven Place
Keymaster

Stock is selling off hard on earnings, but I know AMZN and it has a tendency to fade its earnings move…s ee last quarter when it got ugly, chopped around for a month then reverted higher.

The trade I like here is a Jun iron condor:

Sell to Open Jun 260/255 put spread for 0.80

Sell to Open Jun 340/345 call spread for 0.40

Adjust at 320 or 270.

May 12, 2014 at 2:25 pm #2174

Steven Place
Keymaster

We’ve captured 50% of the premium which is a 15% return on risk. Going to exit here and look for reentries.
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