Flagged to us this morning, these couple of Call Condors are worth checking out.
GCZ9 1510.00/1530.00/1550.00/1570.00 Call Condor
This closed at around 2.50 which gives it a max payout ratio of 8 (Max Payout/Premium here $20/2.5), this is versus its year average for the year of 5.7.
You can clearly see on the 5-Year chart just how cheap this Condor has become over the last 3 months. It offers very good value if you’re expecting a move back towards 1530.
Interestingly we’d expect the price to hold if the market drops, here we’ve moved the underlying to 1480 and the Price shows at 2.866. Pretty defensive.
GCZ9 1510.00/1520.00/1530.00/1540.00 Call Condor
This is very similar but cheaper, costing around .702 cents for a $10 payout (Max Payout of 14x vs a 9.7 average), might be worth a look if your bullish view is more muted here.
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