GCZ9 1500/1510/1520/1530 Call Condor with 75 days to expiry
After the recent down move, Call Condors and Flys seem to have hit new lows, and might be worth a look.
Looking at the GCZ9 1500/1510/1520/1530 Call Condor here as an example, does it offer value at .703? It’s a pretty narrow payout area.
The key to understanding a trade like this is to check its historic payout over time, does this structure, ATM, 10 wide condor, with 75 days to expiry ever payout? Yes, over the last 3 years it’s paid out and average of .97 cents.
So if you can buy these types of structures for significantly less than a historic payout price, and the trade kind of fits with your view, then it’s probably worth a closer look.
Trade booked for tracking
