Iron Condor or long-It? First of all, I believe the weekly lows are in because of my pre-calculated weekly ranges in my regular article at approximately 2800-2700, rounded here to make the Iron Condor math easy- the 50% point is 2750. An out-of-the-money 2760, 2780, 2780 strike zone long call spread or straight long call would be inexpensive as well.
The market was as prepared for a taper as it was ever going to be and the decision from the Fed came as a total shock. With markets likely to be choppy until we get further QE-related news, here's how to profit with an iron condor.
How can a trader profit in a potentially range bound market? Buying or selling the underlying will not allow the trader to capture profits in market with no direction, but options strategies can allow a trader to capture premium and profit.