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Gen88

Iron condor trade

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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.IMG_4306.jpg

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@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). 

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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.

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