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 above our $227 sold put.
Unless there is a big gap lower tomorrow the S&P 500 Index ETF should remain above the $227 strike sold put. If the unexpected does happen, don’t let the ETF price end the day below the sold put 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 $229 or above, we plan on allowing all the contracts to expire worthless. However, if the price moves lower, we will initiate an order to close out the position (buy back all the sold put option contracts).
Feel free to contact us with questions,