Here's How You Save a Failed Iron Condor Trade

Hello Trader, In true Quadruple Witching form, this week's turbulent price action was highlighted by some exceptionally violent rips and dips. As this first chart in today's report shows, the S&P 500 is still locked in a range of roughly 3.0% defined by the all-time highs on the high-end and the 12/06 to 12/07 overnight gap-up on the low-end. Figure 1

One of the great things about options trading is that there is a strategy fit for every type of market environment. And when it comes to range-bound markets, there's more than one. Today, I am going to show you how I implemented an "iron condor," which is one of the easiest multi-leg options strategies to learn, on Amazon (AMZN). In addition, I am going to share how I managed this trade after getting stopped out of a portion of the trade for a loss.

Click here to see how this strategy played out!

Jeff Bishop

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