I know, I know, another iron condor. We will get into credit spreads later, but right now I’m seeing more premium and high-probability setups with iron condors.
Ticker: USO (United States Oil ETF)
Position: +69 put, -73 put, -81 call, +85 call
Expiration: Oct 20, 2023
Strategy: Iron Condor
Profit Target: Looking to exit around 1.20 (GTC)
With a 4-wide spread and taking 1.60 in credit, our max loss is $240 per contract.