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AUgust recommendations - IRON CONDORS AXP ANF

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We are recommending credit spreads on the following issues to complete an iron condor

ANF - ( current issue )

AXP - ( current issue )

We are adding the following positions to our AUgust recommended list. These positions will completeiron condors on both ANF and AXP. These positions should require no more margin requirement with the right broker.

ANF $70.15

SELL ANF-TM ANF AUG $65.00 PUT CREDIT= $0.50
BUY ANF-TL ANF AUG $60.00 PUT DEBIT $0.10
NET CREDIT = $0.40
 

INITIAL "NET- CREDIT TARGET= $0.40 or $40.00
POTENTIAL PROFIT (x 10 CONTRACTS @ $0.40 = $400.00
MARGIN REQUIRE. (x 10 CONTRACTS $4,600.00
RETURN ON INVESTMENT= 8.70%
EXIT STRATEGY = 1. WATCH LIST 2. MAXIMUM LOSS SPREAD PRICE DIFFERENCE $5.00
1. STOCK WILL BE PLACED ON WATCH LIST IF STOCK PRICE DROPS TO: $68.00
2.EQUITY ISSUES
A STOP LIMIT will be placed on the SHORT STRIKE PRICE on any EQUITY OPTION that has a STRIKE PRICE DIFFERENCE OF $5.00 or MORE.

THE STOP LIMIT ON THIS POSITION IS NOTED BELOW:
ANF POSITION STOP BELOW
ANF-TM STOP LIMIT EXIT >> = $2.50

If and when the STOP LIMIT IS EXECUTED - A contingency order should be in place to then SELL the LONG SIDE of the Spread and close the position with a Market Order if and when the SHORT side needs to be STOPPED OUT

AXP $59.23

SELL AXP-TK AXP AUG $55.00 PUT CREDIT= $0.55
BUY AXP-TX AXP AUG $52.50 PUT DEBIT $0.25
NET CREDIT = $0.30
 

INITIAL "NET- CREDIT TARGET= $0.30 or $30.00
POTENTIAL PROFIT (x 10 CONTRACTS @ $0.30 = $300.00
MARGIN REQUIRE. (x 10 CONTRACTS $2,200.00
RETURN ON INVESTMENT= 13.64%
EXIT STRATEGY = 1. WATCH LIST 2. MAXIMUM LOSS SPREAD PRICE DIFFERENCE $2.50
1. STOCK WILL BE PLACED ON WATCH LIST IF STOCK PRICE DROPS TO: $57.50
2. ON SPREADS WITH 2.50 or less difference in STRIKE PRICES the Difference
IN THE STRIKE PRICE WILL BE OUR MAXIMUM EXPOSURE - WE WILL NOT USE STOPS ON THOSE POSITIONS. THEY WILL GO ON THE WATCH LIST AND BE FOLLOWED WITH INSTRUCTIONS AS TO HOW TO PROCEED OR/WHAT EXIT POINT NEEDS TO BE ESTABLISHED



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