NEW YORK (TheStreet) -- Strategic Mindset: At Top Gun Options, we are market neutral with possibilities of surges in volatility.

Target:

Salesforce.com

(CRM) - Get Report

trading at $147.83

Commit Criteria:

CRM Implied Volatility is overpriced relative to its forecast volatility of 9.81% over the trade period. We are looking for possible price movement but for it to stay within its $130 to $165 price range until the exit of this trade.

Tactic:

Opening 10 CRM June 2012 Iron Condors (strikes

125/130/165/170) for a $1.15 credit

Tactical Employment of Iron Condor:

Buying to Open 10 CRM Jun 2012 $170 Calls

Selling to Open 10 CRM Jun 2012 $165 Calls

Selling to Open 10 CRM Jun 2012 $130 Puts

Buying to Open 10 CRM Jun 2012 $125 Puts

Net Credit: $115 per Iron Condor for a total of $1150

Max Gain: $1150

Max Risk: -$385 per Iron Condor for a total risk of -$3850

Mid-Course Guidance:

We will be watching for a price movement near the short strikes. As the short strikes are threatened, we will adjust the Iron Condor as necessary.

We don't want trade expectancy dropping below 2%. Based on this we have two price targets at which we need to consider an adjustment. CRM trading below $138.55 and above $152.47 are triggers for adjustment.

Profitability Target:

We will wait for this Iron Condor to expire worthless taking the $1150 credit as profit.

Exit Tactic

: We will wait for this Iron Condor to expire worthless in the

Advanced Model Portfolio, adjusting as necessary.

Matthew "Whiz" Buckley is the Founder and CEO of

Top Gun Options,

an exclusive provider of options training and practical trading applications for options traders of all skill levels. He is also the founder of Strike Fighter Financial LLC, a business-consulting firm specializing in leadership development, risk management and strategic planning for Fortune 500 companies and related organizations. He�s also a Managing Partner and Chief Financial Strategist at

Wealth Creation Investing.

Buckley flew the F/A-18 Hornet for the U.S. Navy. He's a graduate of TOPGUN, has close to 400 carrier landings and flew 44 combat sorties over southern Iraq. After leaving active duty, he served as a Managing Director at a Wall Street volatility arbitrage options firm and was a founder and the CEO of a financial media company. He is an

internationally recognized speaker

and combined his experiences in the military and corporate America in his first book "From Sea Level to C Level."