buy +1 October 2015 $119 call
sell -1 October 2015 $115 call (37% prob ITM)
sell -1 October 2015 $109 put (40% prob ITM)
buy +1 October 2015 $107 put
net credit: $2.02 x 1 x 100 = $202 received
Analysis:
- no risk on the down side
- $198 risk on the up side
- break even at $117.02
9/28/2015 (9:46:15 am, PT)
buy back entire iron condor for $1.11 (debit)
NET PROFIT: $78.64
Success!
Use OPTIONS to hedge on the down side.
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