Since PANW is very rich in premium right now with a high IV. It seems to have broken support and is going sideways. ER is May 30th I may decide to take off the trade before then however I may also want to take advantage of the IV contraction.
195/200/240/250 EXP June 21st $290/710 Profit/Risk
I plan to take the trade off at $150 profit which means I will risk $300 to make $150 since its a high probability trade. If this goes toward the bottom end I will try rolling the top side closer to the side broken or I may just leave the trade since the top side is more vulnerable.
Trade Journal Entry, not trade advice.
195/200/240/250 EXP June 21st $290/710 Profit/Risk
I plan to take the trade off at $150 profit which means I will risk $300 to make $150 since its a high probability trade. If this goes toward the bottom end I will try rolling the top side closer to the side broken or I may just leave the trade since the top side is more vulnerable.
Trade Journal Entry, not trade advice.
Trade active:
went with 170/180/220/230 condor spread lower P/L
$2.09 max profit.
Target will be $110 and max loss $220.
$2.09 max profit.
Target will be $110 and max loss $220.