Rolling the bull put spread side of this iron condor down and out to June. Also going to let the call side of this iron condor expire worthless to keep the entire $150. See the details of the roll in this post.
BTC ISRG May 12 545/540 put spreads for ($3.62-$2.42) x 100 x 5 spreads = $600 paid vs. $250 received = $350 loss
This is offset by the $150 received from the call side
Net trade is a $200 loss
ISRG popping up today after AAPL beat earnings last night, causing an overall market positive reaction. Selling call spreads to create an iron condor for no added margin requirements. Giving the stock lots of room to run should this be a catalyst for more upside. OptionsHouse puts my probability of achieving max profit at 87%.
Sold ISRG May 12 625/630 call spreads for ($1.52-$1.22) x 100 x 5 spreads = $150 premium received
Intuitive Surgical, Inc (ISRG) with a big pop today after beating earning estimates yesterday. Looking for one of two things in this trade. First using this as a catalyst for further price increase in the stock. Or if profit taking sets in, using the pre-gap highs as support should the chart look to close the gap. OptionsHouse tool says I have an 84.4% chance of achieving max profit on the trade of $250. This represents a 10% ROI.
Sold ISRG May 12 545/540 put spreads for ($3.50-$3.00) x 100 x 5 spreads = $250 premium received