On September 13, 2019 I made my first "successful" Iron Condors trade on Home Depot (HD) stock.

The idea for this trade is taken from Options Trading IQ article: TWO IRON CONDOR TRADE EXAMPLES – HD AND TLT

I did a little adjustment (shortened the wing size from 10 to 5) and sold just one contract (my margin has been close to 100%)

Date: September 13th, 2019

Stock Price: $233.98

Trade Set-Up:

Sell 1 HD Nov 15th, 215 puts @ $1.71

Buy 1 HD Nov 15th, 210 puts @ $1.25

Sell 1 HD Nov 15th, 255 calls @ $0.86

Buy 1 HD Nov 15th, 260 calls @ $0.49

  • Premium: $83 Net Credit
  • Maximum Risk: $500 ($417)
  • Potential Return: 16.6%
  • Breakeven Points: 214.17 and 256.60

I'm planning to keep the trade until the expiration or adjust legs if needed.

The Home Depot Inc. or Home Depot is the largest home improvement retailer in the United States, supplying tools, construction products, and services. The company is headquartered at the Atlanta Store Support Center in unincorporated Cobb County, Georgia (with an Atlanta mailing address).

It operates many big-box format stores across the United States and its territories of Puerto Rico, Guam, and the U.S. Virgin Islands; all 10 provinces of Canada; and the 31 states and Federal District of Mexico. MRO company Interline Brands is also owned by The Home Depot with 70 distribution centers across the United States.

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