Options Oracle: 04/29/20

TOO 042921

Normally we look to collect at least 10% of the cost of our long leaps as a cash credit on the short side of the spread. In this case, our cash credit is better than 20%. Ideally we want the stock to go up from here but with a credit such as this we will most likely make money even if the stock drops down a little. This could very well be another “cash cow” position for us. As good as this sounds, it’s important to remember to trade in moderation. We won’t be able to completely relax with this spread until we have added the put side on to this Condor. Keep in mind that this is a trade setup for the opening of the market tomorrow morning. If you enter this order into the system tonight, as a Good Till Cancel (GTC) order, it will most likely execute minutes after the market opens. If you are not able to get the order in before the opening, then just do your best.

See video link below.

The attached PDF file will explain more of the details for this trade. Please be sure to review all of the material before entering any trades to your account.
Happy Trading.


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AJ Monte

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