Iron condor question ....

Discussion in 'Options' started by tradingpoker, Jan 29, 2020.

  1. Can you look at this trade I have on right now and tell me if I have the right thinking here pic below....

    https://gyazo.com/2ce7ee16068fd0070679c4eabaa6597d

    AMD IV was super high this week, earnings were last night. (btw At time of writing this and when that pic was taken AMD was down just over 5%)

    I did an IRON Con few days ago. My question and thoughts are ....look at the 53 call I sold, sold @ 1.08 now trading 0.04. (Very important I should add that AMD has 2 days until it expires.)

    So why keep this position open, the 53 call I mean?

    I can't find any reason except to make another 4 cents. If I close that pos for over a $1 gain, then I still have the Puts long/short open + I have the long call open.

    If AMD bounces back now I am free rolling on the long side right? As my long call is worth nothing nearly and could come back some. Have I got any of this wrong?

    (again, plan is close the Call I sold for near to max profit and let the rest run)

    Thank you as always for your time and help