Good morning team.

As you know I am in no rush to enter trades but flipping through charts this morning I see a potential opportunity in CSCO.  I’m looking at and Iron Condor position but I’m going to be very picky about the entry.  If you don’t understand Iron Condors try putting it on in a paper trade account.

Consider:

Selling the MAR 43 Calls & Buying the MAR 44 Calls – Selling MAR the 38 Puts & Buying the MAR 37 Puts.  I have placed the order trying to get a $0.40 Credit.  The minimum I would accept is $0.35 as a credit.

If we do get a $0.40 credit the Maximum Risk in a single spread is $60.00.  The probability of success currently is better than 70% assuming we get filled.  Don’t rush the trade.  Let the order sit there and bake.  If we don’t get filled don’t worry about.  There will always be another trade.

Remember all trade ideas are for your evaluation and consideration.