$BABA - UCS-RSG setting up beautifully.
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BUY +1 IRON CONDOR BABA 100 (Weeklys) 10 JUL 20 220/225/210/205 CALL/PUT @2.47 LMT
Lets look at the R/R
1. BABA is smack at 215 - You lose about $250 max - Risk mitigation close it 4 days before the trade mature.
2. BABA moves past 223 - You are profitable on the Long Side
3. BABA moves past 207 - You are profitable on the short side
Max Profit - $250
Max Loss - $250
Probability estimated - 50%
All RSG does it there is a pop coming.
Lets look at the R/R
1. BABA is smack at 215 - You lose about $250 max - Risk mitigation close it 4 days before the trade mature.
2. BABA moves past 223 - You are profitable on the Long Side
3. BABA moves past 207 - You are profitable on the short side
Max Profit - $250
Max Loss - $250
Probability estimated - 50%
All RSG does it there is a pop coming.
Nota
I forgot to mention, Buying IC makes sense because the IVP is less than 28%. If Volatility expands for some reason, your max loss will be reduced.Nota
That's how you participate in anticipation of volatility. Not time the exact top and bottom and breakout. None of those stupid stuff.
Participate, Remain Calm until the setup comes to fruition, have a mindset to lose it all, if your options dont work.
There may be more room to the upside.
Nota
Closed the Trade.
Uday C Santhakumar
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