Microsoft (MSFT) is sitting right between the 50 and 200-day moving averages, and that could mean it’s a good time for an iron condor trade. Microsoft is also showing elevated implied volatility with an IV Rank of 52%. An iron condor aims to profit from a drop in implied volatility, with the stock staying within an expected range. When implied volatility is high, the wider the expected range becomes. The maximum profit for an iron condor is limited to the premium received while the maximum potential loss is also capped. To calculate the maximum loss, take the difference in the strike prices of…