Live: Friday, April 12, 2019

1:10 p.m. New York time

No fill on my CGC exit order.

12:05 a.m. New York time

I entered an exit order on CGC, which is at 44% of maximum potential profit. The exit bid is for a $0.67 debit, or 51% of max.

DIS opened 10% higher than the prior day’s close, from $116.60 to $127.91, challenging the upper side of my iron condor, after the company announced the launch date and pricing of its new Disney+ streaming service.

Thanks to the wide profit zone dictated by my new trading rules, the higher open was only $1.91 above the upside breakeven point, suggesting a good chance of recovery back to profitability in the 35 days left before expiration.

Under my rules, I exit 21 days before expiration, which is two weeks from now. In this case, whether I honor that rule or not will depend upon the chart.

I checked out the advisability of adjusting the unchallenged side but judged the challenge to be insufficiently strong to warrant action at this time.

By Tim Bovee, Portland, Oregon, April 12, 2019


Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.

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