ALTB – Closed CMG Iron Condor MAR31 385/390/460/465

Over the last few days, CMG spiked up suddenly. This put its price above the $435 short call strike and put us at a loss in the trade. The risks of a greater loss happening are high and our confidence the CMG was going to drop back into a better price range are low. It made sense to shut the position down.

ALTB – Open CMG Iron Condor MAR31 385/390/460/465

CMG is holding to a nice sideways channel. Its IV percentile rank is low (8%), but if you look further back into its trading history it has been even lower than it is now. The low IV is a challenge, but overall it is a very good opportunity to place an Iron Condor.

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