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A Sector Iron Condor that Traded Great

Back on the 27th we saw some increased volatility come back into the markets with that increase in volatility comes an increase in premiums and I was looking to sell said premium, assuming that we would be more range bound going into November opex.

OIH was a sector that I was looking at, primarily because it had very strong support around that 110-115 level and oil had broken out of a range, so I felt that the risk to the downside was less than what the options were pricing in.

So I sent an email out to my subscribers, looking at selling an iron condor in OIH. I put out a video to the public and a trade to my subscribers here.

Anyways, the trade is expiring for a full profit. With the total credit of 286, we saw a return on risk of about 40%.

With December rolling around the corner, I'm looking to add similar trades on. If you aren't a subscriber yet, now is a great time to become one.

by Steven Place

Steven Place is the founder and head trader at investingwithoptions.com/