The decision was based on the analysis I did during this morning's scan.
Briefly, the structure is a short put on WFC with a strike price of $27, and a short called with a $29 strike, hedged by a long put of $26 and a long call of $30.
The position provided a premium credit of 46 cents, and it expires on March 19, or 25 days away.
The way iron condors work, the options will expire worthless and I'll get to keep all the premium of the price at expiration is between $27 and $29, and there will be lesser profit above and below that.
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Topics:
Wells Fargo bank financial.
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