OTL-Dashboard

TRADE ALERT:
4-Day Income Trade

My GTC order hit 0.45 so this position closed.  Even if your GTC order didn’t hit, I recommend closing this position today, before tomorrow’s CPI report.

Ticker: iShares Russell 2000 ETF (IWM)
Order Expiry Date Strike Option

Buy to Close 17 Feb 23 201 CALL
Sell to Close 17 Feb 23 206 CALL
Buy to Close 17 Feb 23 183 PUT
Sell to Close 17 Feb 23 178 PUT

TRADE ALERT:
4-Day Income Trade

Ticker: iShares Russell 2000 ETF (IWM)
Margin Required (est.) per Iron Condor: $425
Net Credit (open) per Iron Condor: $0.75

Order Expiry Date Strike Option

Sell to Open 17 Feb 23 201 CALL
Buy To Open 17 Feb 23 206 CALL
Sell To Open 17 Feb 23 183 PUT
Buy To Open 17 Feb 23 178 PUT

I’m going for a 40% profit target this time, so the GTC order will be 0.45
I’m also setting up a 100% stop loss, so $1.50

4-Day Income Trade
Ticker: iShares Russell 2000 ETF (IWM)
This trade hit the 35% GTC order with the pullback in the market this morning. Finally back to a “normal” trade!

Net Debit (close) per Iron Condor: $0.57 per Iron Condor placed

Order Expiry Date Strike Option
Buy to Close 3 Feb 23 195 CALL
Sell to Close 3 Feb 23 200 CALL
Buy to Close 3 Feb 23 178.5 PUT
Sell to Close 3 Feb 23 172.5 PUT

The market was boosted by earnings this week and despite intraday moves earlier in the week, this spread never hit the 35% profit target I had. If you managed the call spread separately from the put spread, there were opportunities throughout the week to close each of them for a profit, but that didn’t happen for the iron condor. Technically, we’re still lower than the sold call strike, you could hold it through the weekend and deal with it on Monday, but this market seems to be in a melt-up mode, so I’m closing it down now.

4-Day Income Trade
Ticker: iShares Russell 2000 ETF (IWM)
Net Debit (close) per Iron Condor: $1.05 per Iron Condor placed

Order Expiry Date Strike Option
Buy to Close 30 Jan 23 189 CALL
Sell to Close 30 Jan 23 193 CALL
Buy to Close 30 Jan 23 177 PUT
Sell to Close 30 Jan 23 173 PUT

With the Fed meeting coming up and a PCE report on Friday, I’m reducing the number of contracts I would normally trade and I may close early even if we don’t hit the profit target.

TRADE OPEN
4-Day Income Trade
Ticker: iShares Russell 2000 ETF (IWM)
Margin Required (est.) per Iron Condor: $512
Net Credit (open) per Iron Condor: $0.88

Order Expiry Date Strike Option
Sell to Open 3 Feb 23 195 CALL
Buy To Open 3 Feb 23 200 CALL
Sell To Open 3 Feb 23 178.5 PUT
Buy To Open 3 Feb 23 172.5 PUT

I’m going for a 35% profit target this time, so the GTC order will be 0.57

Bonus Trade – Ticker (VTV):
Buy to open 1 VTV 17 MAR 23 $142 put
Sell to open 1 VTV 17 FEB $142 put
Net debit: $0.80 – $0.90

The bonus trade assumes volatility will increase leading up to earnings announcements and the Fed announcement. I am testing this trade using 1 contract.

We are jumping back into another trade today. With volatility being low right now, we’re going to push the profit target to 35% and be more active in closing sides of the trade.

TRADE OPEN
4-Day Income Trade
Ticker: iShares Russell 2000 ETF (IWM)
Margin Required (est.) per Iron Condor: $338
Net Credit (open) per Iron Condor: $0.62

Order Expiry Date Strike Option

Sell to Open 30 Jan 23 189 CALL
Buy To Open 30 Jan 23 193 CALL
Sell To Open 30 Jan 23 177 PUT
Buy To Open 30 Jan 23 173 PUT

I’m going for a 35% profit target this time, so the GTC order will be 0.40