Beyond My Risk Tolerance Level (BYND Trade – Beyond Meat)

The Implied Volatility Rank for BYND is really high right now, so I wanted to capitalize on that and sell some volatility. Last week I sold an Iron Condor for a credit of 1.71, and I thought I might make 50% of that. For a few days it hovered around a debit of .60 which would have been a nice profit, but I held out for 50%. This morning it breached the upper bounds of both strikes on the call side, and I was looking to close and pray for a break even. My Iron Condor wasn’t filling so I broke it up into 2 trades, and closed each one separately at the market mid-price and somehow made 11$ on the whole deal. Lucky me! I didn’t like seeing the trade change by 100s of dollars every few seconds, and my max loss was over 300$, and would rather try something else. Anyhow, I’m out, and will probably stay away from these sorts of trades for the foreseeable future. beyond meat bynd

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