Selling an Iron Condor on a Crude Oil Breakout

A full crude-oil trade walk on Five Minute Futures. The host adapts: a short call spread took a small loss as crude broke out, so he flipped into a long call spread and closed it for a profit, and now fades the move by selling a wide iron condor. The strikes are the lesson, set beyond the March high and below the October swing low, so it only breaks if crude makes a new monthly extreme. A clean, defined-risk setup on CL. 📊 tastylive: https://www.tastylive.com/ 📰 Get Tom's pre-market analysis every morning: https://www.tastylive.com/newsletters 📘 FREE Options Strategy Guide: https://tinyurl.com/bp9ms763 📱 Follow tastylive on X: https://x.com/tastyliveshow Chapters 00:00 This week's trade, crude oil 00:09 The short call spread that lost a little 00:33 Flipping long, then taking profit 01:04 Why roll out of the winner now 01:22 Fading the move with an iron condor 01:47 Setting strikes around the key levels 02:58 The IVR creeping back up 03:06 The contract mechanics on CL 03:21 Max profit, max loss, break-evens 04:33 Why 54 days, taking what's offered #tastylive #fiveminutefutures #cmegroup #crudeoil #ironcondor #sellingpremium #futures #definedrisk #optionstrading #commodities tastylive is a real financial network, producing hours of live programming every day. Follow along as our experts navigate the markets, provide actionable trading insights, and teach you how to trade. With over 120 original segments, and over 25 personalities, we'll help you take your trading to the next level, whether you are new to trading or a seasoned veteran. tastylive content is created, produced, and provided solely by tastylive, Inc. ("tastylive") and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, digital asset, other product, transaction, or investment strategy is suitable for any person. Trading securities, futures products, and digital assets involve risk and may result in a loss greater than the original amount invested. Investment information provided may not be appropriate for all investors and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. Options, futures, and futures options are not suitable for all investors. Prior to trading securities, options, futures, or futures options, please read all applicable risk disclosures, including, but not limited to, the Characteristics and Risks of Standardized Options Disclosure and the Futures and Exchange Traded Options Risk Disclosure Statement found at https://tastytrade.com/disclosures/. Past performance is not indicative of future results. Performance is not presented net of all commissions, fees, and expenses. Multi-leg option strategies incur higher transaction costs than single leg trades as they involve multiple commission charges. Examples provided are for illustrative, informational, and educational purposes only and are not intended to be reflective of results you can expect to achieve. Supporting documentation for any claims, including claims made on behalf of options programs), comparisons, statistics, or other technical data, if applicable, will be supplied upon request. tastylive, through its content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations. tastylive is not a licensed financial adviser, registered investment adviser, or a registered broker-dealer.