Ramie 8:57 am on Monday, September 30, 2019

Taking profits on FDX

Bought to close 10/18 iron condor (130/140/160/170) @ 1.41. Sold for 2.52 on 9/18.

thomberg1201 9:24 am on Monday, September 30, 2019

Nice trade after the big move down
- Ramie 9:41 am on Monday, September 30, 2019
  
  Thanks. When I sold it after the earnings report it was around 150, with still elevated IV and selling momentum slowing. It didn’t look like it had another 10 points of downside but sure enough it got down to the 142-143 area on 9/24 (following the general market down). I decided to hold it since there was still high IV and I thought any kind of bounce would reduce some of the volatility left in the options. Nothing really ever goes according to plan but with the IV rank around 32 today (it was 44 when I opened the position) and the stock not really participating much in today’s rally I decided to take it off for around 45% of the max profit. Not one of the easier trades–I was watching it closely every day I had it on, but I’ll definitely take it and move on 🙂

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