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Mike Butler Paired a Neutral Iron Condor With a Downside Butterfly on Tesla.
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ticker lesson
Breakdown
0:00TSLA· ticker
Tesla iron condor 415-420/340-335
- Iron condor 415-420/340-335
- 40 point implied move 30-day cycle
- 51% IV rank still profitable
- Collected $200 credit
- Risk $300, reward $200
1:53TSLA· ticker
Tesla downside butterfly 360-355
- Downside butterfly 360-355
- 15 point wide butterfly
- Bought for $2
- Max profit $1,200 at 355
- Break even 375/340
3:50lesson
Implied volatility crush mechanics
- Crush IV 20-30 percentage points
- Front-month expirations target 65%
- Theoretical P&L 345-375
- Profit tent at 360
- Synergy between condor/butterfly
5:46TSLA· ticker
Tesla iron condor + butterfly combo
- Iron condor offsets butterfly cost
- Inside down move beneficial
- Double earnings move coverage
- Reduce cost basis strategy
- Profit tent 345-375
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