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Selling an Iron Condor in Zoom Video (ZM)

Selling strangles in high priced stocks takes a lot of buying power. I prefer selling iron condors in these cases to conserve buying power. Zoom Video has decent implied volatility so I am selling a wide iron condor that mimics a strangle. The maximum loss would be $6,300 for a 10 lot (10 – 3.7 = 6.3 x 10 x 10). The maximum gain would be the credit received ($3,700 for a 10 lot). I would be glad to buy back the iron condor for half of the credit received.

ZM Sep 185/195/280/290 for a credit of 3.7.

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