Stock / Symbol: Apple / AAPL
Price at trade post: $552
Option Strategy: [private_monthly]iron condor[/private_monthly]
Reasoning: Post earnings, we're expecting AAPL to settle down for a while. [private_monthly]This iron condor trade bets that AAPL doesn't finish June expiration under $495 (85% probability) or over $610 (91% probability). [/private_monthly]
Trade Details:
[private_monthly]
STO -2 AAPL Jun12 610 calls
BTO 2 AAPL Jun12 615 calls
BTO 2 AAPL Jun12 490 puts
STO -2 AAPL Jun12 495 puts
for a min net credit of $0.80 per contract (current bid $0.75 / ask $0.90) (day order, limit order). If you're not filled today, try to get filled tomorrow but not after that.
Requirements:
Cost/Proceeds ($160)
Option Requirement $1,000
Total Requirements $840
Estimated Commission $12.95
[/private_monthly]
Max Risk: $840
Max Reward: $160 or 19% by Jun 15
Profit Range: between $495 and $610 by Jun 15
Suggested Downside Stop @ $495
Suggested Upside Stop @ $607
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