Opened KO iron condor

I've opened a slightly bearish position in KO, as an iron condor, expiring in January, that has maximum profit if the price is between 57.50 and 52.50 at expiration. With shares at about 57.20, I've allowed more room on the downside but have given the shares some wiggle room.

An iron condor consists of a bear call spread on the high side and a bull put spread on the low side. In this case, I'm long the strike price 60 call, short the 57.5 call, short the 52.5 put and long the 50 put. Maximum profit is between the two short options.

I could have also done a bear call spread, which would be profitable all the way down. However, I don't expect a protracted decline in KO -- just a pullback.

It was a pps/mfi signal that brought the issue to my attention. Then I looked at other evidence. The 20-day simple moving average is pointing upward. The Bollinger bands are expanding (generally not a sign of change).

So I'm basically neutral within the support and resistance levels I've identified, and I chose an iron condor that reflects those levels.

The trade cleared for a 1.02 credit with the stock's price at 57.25