IBM is trading in the around 105. The price action of IBM is very stable and range bound. Implied volatility of IBM is at 27.84%. Not really high level of volatility but at this level the condor looks very attractive.
10 July 95/100/110/115 condor at a net credit of 3000 and commissions of 59.80. This trade has a risk of 2000.
Breakeven points on up side and down side are 113 and 102. If IBM stays below 113 and 102 this trade makes sufficient money.
Close the calls if ibm trends in upward direction.
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