Rocket - ADBE Iron Condor 12-09-20
ADBE Iron Condor - Earnings Tonight After The Close
We are going to initiate an Iron condor trade to absorb some of the premium above and below the market in ADBE.
ADBE is trading at $484.26. We are going to give ourselves about $35 of price movement in either direction. Options are pricing in a $21.59 move on their earnings announcement tonight.
All options expire this Friday for ADBE:
Sell $520 Call
Buy $525 Call
Sell a $450 Put
Buy a $445 Put
This should result in a net credit of $0.85 per contract or $85. $85 is our maximum profit in this trade.
We are risking about $415 to make $85 in this trade. We want ADBE to stay within $450 to $520 for a max profit. Don't go any lower than $0.75 in this trade for a credit.
ADBE is trading at $484.26. We are going to give ourselves about $35 of price movement in either direction. Options are pricing in a $21.59 move on their earnings announcement tonight.
All options expire this Friday for ADBE:
Sell $520 Call
Buy $525 Call
Sell a $450 Put
Buy a $445 Put
This should result in a net credit of $0.85 per contract or $85. $85 is our maximum profit in this trade.
We are risking about $415 to make $85 in this trade. We want ADBE to stay within $450 to $520 for a max profit. Don't go any lower than $0.75 in this trade for a credit.
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