Option Investor


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Hi Gang,

Are we having fun yet? It's been an interesting week to say the least. Let's take advantage of the increased volatility and put on a MID bear call spread to complete our Iron Condor.

With the MID at about 836, let's:

Sell 20 April MID 900 calls - MQWDT
Buy 20 April MID 910 calls - MQWDB
Credit of about $.50 ($1,000) -- A nickel more or less is fine, but don't get greedy.

The market is trying to bounce. Some of you may want to wait for the 910/920 bear call spread. Double check the option symbols before you place the trade. No additional maintenance should be necessary -- IF you have the right broker.

That would complete our Iron Condor with a maximum range of 800 to 900. I like round numbers. Maybe they'll be lucky for us.

Good luck, be careful, and trade smart!


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