Mike Khouw suggested an iron condor strategy in TLT. He wants to sell the November $143/138 put spread and the November $151/$156 call spread for a total credit of $1.89. If the stock stays in a range between $143 and $151 at the November expiration, Khouw is going to make money. He starts to lose money above $152.89 and below $141.11, and he can maximally lose $3.11.