NTES has been caught up in the market moving straight up over the last couple of days. That is putting this iron condor position in jeopardy. The company also has earnings coming out in a few days, so I’m closing this trade and taking the loss. If you’re bullish on the stock, you could buy back the short call, giving you a put credit spread and a long call left. If NTES reports good earnings, you could see a profit. However, I’m going to close it down and move on.
TRADE ACTION: close the NTES iron condor for a debit of around 3.50.
BTC NTES 17 NOV 110 call
STC NTES 17 NOV 115 call
BTC NTES 17 NOV 100 put
STC NTES 17 NOV 95 put