Trade Of The Week: ALU – Iron Condor
Our trade of the week is a neutral ALU Iron Condor Trade.
Our trade of the week is a neutral ALU Iron Condor Trade.
Here are some of the key facts that have contributed to this trade idea:
- We are looking to enter the position close to 45 days to expiry.
- ADX is below 20
- The 50 Day MA and 200 Day MA are close and favourable.
- The share price is close to the 50 Day MA and 200 Day MA.
Based on the open this morning we are looking at trading the following strikes:
The stock is currently trading at $34.97
We are looking at around a 78c credit to enter into this trade.
Your best outcome in this trade is for both legs to expire worthless so you can keep the upfront premium. The theoretical maximum profit is currently $390, with the theoretical maximum loss $610.
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We wish you good luck with your trading, and as always if you have any questions, please feel free to contact our trading desk on (03) 8080 5795.
*Past returns do not reflect future returns
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