@@Abears_ I’m not sure what you mean by “how does the profit get calculated throughout the day” this isn’t a 0dte trade. The contracts expire in 30 days. Since this trade is a net credit the max profit is the credit received which is $1.04 in this video. Max loss will be the width of strikes of the spread ($5 in this video). Minus the credit received ($1.04) $5-$1.04 = $3.96 max risk. A iron condor is a the combination of two credit spreads: a call credit spread and put spread. It’s a flat profit area between the short strikes of the condor: $190 short call and $160 short put. Your profit is the exactly same as long as price stays within those strikes. Hope this helps. Feel free to ask more questions.

@@optionedge8324 Trading spreads you don’t have to let them expire. I was up 25% yesterday on a trade that didn’t expire till Friday

@@optionedge8324 Not sure why my last comment disappeared but I was saying that I opened a spread trade and the expiration was Friday but I closed 6 hours after opening for a 25% profit. You don’t have to hold for expiration. Since iron condor spreads are flat profit how do they calculate the profit say on day 1 or 2 if price is within your spread parameters

Yes of course. In addition there is a “bracket” feature that allows to set a stop loss while simultaneously setting a gain limit. So if you wanted to you could have stop limit set to 50% of the contract value and then a gain limit set to 50% gain and it will execute whichever hits firdt

@@optionedge8324 Thank you!

No problem!

Tastytrade should have that shown by default. If it doesn’t you can tweak your settings so it’s shown

daily back above the vwap line, montly and weekly below it currently

crossed right back down through it. More bear market ahead.

Do you prefer losing ?

@@optionedge8324 I prefer statistical significance

Ghetto spread, I like that haha

tbh, i don't think i did. Yeah i like the tool a lot

How should I be doing it?

@Option Edge Think about the risk you were taking. NVDA went up more than 25% after it announced earnings, META dropped more than 20% after earnings last year, these kind of moves are not uncommon anymore, I don't care what any AI or social platform are saying. There are other, safer ways to play earnings if you must do it

@@guyredares I hear you. However, in order to be rewarded, you have to take on risk. That’s the name of the game. There are adjustments you can make if the stock moved against you. You can roll out and up, sell a put to neutralize delta, etc. if you have a strategy that’s better I’m all ears.

@@optionedge8324 Yes, you do need to take calculated risks but with catastrophic events in mind. Had you sold a naked Call on NVDA prior to its last earnings there is no way you could have rolled your way out of a gigantic loss which would take you months or even years to recover from. My point is that you made $50 by taking a much larger than $50 risk.

@@guyredares I hear you

I bought the 10 puts and sold the 8 puts. It’ll be almost a 3 bagger if it closes tomorrow around 8. I play these super small so I’m not making much at all ha

I rolled down the $111 short strike to $110. Lotta overhead resistance around $109

Yes, it’s been range bound since last May

Lets say you sell a $90.00 strike cash secured put for a credit of $1.00 in a stock currently trading at $100.00 stock. You're breakevn point on the trade would be $89.00. short strike - credit received = breakeven ($90.00 - $1.00 = $89.00) If the stock gaps down to $85.00 at expiration, you would be "put" (AKA buy) 100 shares of stock at $90/share. This means you would be down $400. ($89.00 - $85.00 = $4.00 x 100 = $400). At this point you could sell a call over the 100 shares of stock you know own (covered call strategy). Since your breakeven point is $89.00 you would want to sell a call at a strike price that is above $89, or slightly in the money, as long as the credit received would allow your breakeven to be above $89.00 still. For example, if you sold an $87.00 call for a credit of $2.00, your breakeven would be $89.00 and you wouldn't lose money if the stock breached the short call strike.

Good to know. Thanks.

No I don’t

Thank you 🙏

Sure will post it soon

Nice. I ended up just doing a put spread this morning. Already up like 50%

Wow very interesting. you bracket the whole expected move within the calendar. You trade this type of strategy a lot?

I do, I use this strategy on Spy for weekly income. I shoot for 20-25% profit. Keep a tight stop/loss. The dbl calendar has worked extremely well for me when I play earning on a high flyer like NFLX, Tsla, Roku,Amzn,etc. I really enjoy your videos and perspective. Thank you! 🙏🏼

Just talking about price action. No need to watch the video there is plenty of other videos on RU-vid.

It’s a shame Robinhood and other platforms don’t have trading rules and ATM strategies

Thanks! I think we'll see the market continue to rally for tomorrow at least. Pretty oversold. There was also a rumor that Fed wants to slow down rate hikes

Whoops I meant 19k 😂

How's gold doing?

@@thebreakawaybook I’ll start including it in my updates

@@optionedge8324 Awesome. Thanks!

Haha. Unhedged long stock was my biggest loser. With options, risk is limited.

Yes. A lot of people thought CPI would come in lower (I did). Ok, I’ll check him out. Thanks for the rec 👍🏻

The last couple months were pretty demoralizing. It was hard to continue making videos. I guess everyone is a genius during a bull market. And yes, my stock holdings are worth a fraction of what they were back in Feb 2021

@@optionedge8324 Yes I hear you.I sold every equity,should of done it earlier.Just got back in slowly.JEPI etf treat’s me well monthly dividend does all right.They trade like me sell covered puts but the monthly dividend is sweet

@@earlrichards8122 nice. I’ll check it out for sure

Sorry. Just saw this now. None of this is financial advice but there is a 99% chance you will lose all of your money on this trade. If it was me, I would take my loss because if you roll out in time for a debit, you will end up also losing the debit you just paid for

Yes sir