BYND – Beyond Meat, but not Beyond my Strikes – Iron Condor Idea***HOT TRADES*** CLOSED FOR $75 PROFIT!

bynd
hottrades

6/3 – BYND has some high IVR (40%+) so we thought we would take advantage of the July contracts, collecting 1/3 of the width of the strikes, or 1.67 in premium collected.  Aiming to close the trade with 83$ profit. As of 6/3 the price of BYND has dropped around 7$ so I’ve adjusted the strikes down 5$. The premium is not as high as it was a few hours ago, but keep an eye on it and aim to collect 1.66. This used about $300+ of Buying Power.  #NOTINVESTMENTADVICE

  • Buy to Open the 7/16 115 Put
  • Sell to Open the 7/16 120 Put
  • Sell to Open the 7/16 180 Call
  • Buy to Open the 7/16 185 Call

6/10 – I have a GTC order to close this automatically at 50% of max profit, or $86. It was 10$ away from that today As of 6/10, BYND closed at 147, and my strikes are still well within the expected move of +/- 17.99. The IVR is now 20.7%, or half of what it was on 6/3. Hoping it closes out tomorrow 6/11.

6/11CLOSED FOR 75$ PROFIT!! – Well this one was getting very close to 50% and still not filling, so I broke it up into 2 separate trades, the put side and the call side:

Trade #1 – .63 debit

  • Sell to Close the 7/16 115 Put
  • Buy to Close the 7/16 120 Put

Trade #2: .29 debit

  • Buy to Close the 7/16 180 Call
  • Sell to Close the 7/16 185 Call

After this, I was left with 75$, which is 11$ short of my 50% profit target. Perhaps I should have waited until Monday and collected the full 50%, but now I’ve got some buying power back and can do additional trades, and not worry about this through the weekend. 20% profit over 8 days is not too shabby.

-Jerry

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: