Options Alert: Iron Condor Screener Results for October 15th

Core Insights - A short iron condor is an income strategy designed to profit when a stock remains within a specified range during the trade period [1] - The strategy involves four options with the same expiration, with capped maximum profit and loss [1] Summary by Sections Iron Condor Strategy - The maximum profit is limited to the premium received, while the maximum potential loss is also capped [1] - To calculate maximum loss, subtract the premium received from the difference in strike prices of the long and short options [1] Trade Examples - A short iron condor trade on Apple involves selling the $195 put and buying the $180 put, while selling the $285 call and buying the $300 call [3] - The price for this condor is $0.60, resulting in a $60 credit to the trader's account, with a maximum risk of $1,440 and a total profit potential of 4.17% [3] - The profit zone for this trade ranges between $194.40 and $285.60 [5] Market Conditions - Apple shows an implied volatility (IV) percentile of 80% and an IV rank of 27.99%, with current implied volatility at 29.75% [7] - The 52-week high for implied volatility is 65.20%, and the low is 15.97% [7] - Apple is scheduled to report Q3 earnings on October 30th, introducing earnings risk if the trade is held to expiration [7]