The April 12th https://www.theoptionplayer.com/ executed a S&P 500 Index ETF (SPY) Iron Condor trade https://www.theoptionplayer.com/sp-500-index-etf-spy-iron-condor-trade-entry-confirmation/
May 19th expiration option contracts expire tomorrow and we expect this trade to close out with the maximum profit. The daily chart below confirms the S&P 500 Index ETF remains below the $242 sold call.
Unless there is a big gap higher tomorrow the S&P 500 Index ETF should remain below the $242 strike sold call. If the unexpected does happen, don’t let the index price end the day above the sold call at the close of trading tomorrow; otherwise you will be automatically assigned by the broker over the weekend. Going into the last 15 minutes of trading (3:45 pm EST), if the SPY ETF is at $240 or below, we plan on allowing all the contracts to expire worthless. However, if the price moves higher, we will initiate an order to close out the position (buy back all the sold call option contracts).
Feel free to contact us with questions,