Premium Selling: Closing 1/2 of AMZN Iron Condor for August 5th Expiration

The following is the third premium selling trade for August 5th expiration: The goal is to try to get around 3 premium selling ideas per week targeting 10-20% in gains. Given the nature of the trade all of the trades will have stops set in place given the exponential loss potential. Premium selling is a great way to bring in cash flow as well as put on a trade playing for a range in a stock.

Took off 1/2 of AMZN Iron condor at $.42 from $1.00 short entry (just as a precaution). 58% profit

Max Ganik (Maxzak) is a 19-year-old stock and option trader. As of June 2016, Max has been a member of Option Millionaires for over 3 years, and has been a contributor for over 2 years. Max regularly writes blogs for Option Millionaires and has also presented webinars.

Max is the founder of Ganik Market Strategies. He is a member of the Leaders Investment Club. Max has been interviewed by the New York Times, CNBC, and Bloomberg TV. He was also the first high school member of the New York Society of Security Analysts. Max is currently a member of the University of Michigan's premier investment club, Michigan Interactive Investments.

More Posts by Max: View All | See Max on CNBC

Leave a Reply