Gen88 19 Report post Posted April 26, 2019 I came across this iron condor trade and the risk/reward seems great so far I’m in the 100% profit for less than a week..but seems I’m missing something though. I’m really just throwing darts in picking the strikes. Stock price is around $133.5 when trade filled. Any ideas or suggestions would be helpful. Share this post Link to post Share on other sites
TrustyJules 3,299 Report post Posted April 26, 2019 (edited) Its an unbalanced condor - if the stock goes to 150$ you'd be quite a bit more worse off than just 90$. Also the expiry is after earnings so a major move could occur which is usually bad for a condor. Edited April 26, 2019 by TrustyJules Share this post Link to post Share on other sites
luxmon 233 Report post Posted April 27, 2019 @TrustyJules ThinkOrSwim's vernacular for buying an iron condor is literal - long the guts and short the wings. @Gen88 to explain what is happening based on your post - you entered a good risk/reward (18:482 on the call side) at the expense of a relatively low probability of profit. But, you got the rip in DIS stock you needed. I see the condor marking over $1.00 now. If it were me, I'd take the money and run (or at least close two call spreads to cover for your original debit). 1 Share this post Link to post Share on other sites
Gen88 19 Report post Posted April 27, 2019 Thanks both for the comments. Now looking more into the trade, I had an unbalanced RIC- short 121,long 122 put, long 145, short 150 call. Which I jumped in initially due to the low cost (max loss of $90) but high reward potential only. I managed to close 2 contracts and left the remaining 3 looking to see how it goes on Monday. 1 Share this post Link to post Share on other sites
