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Tuesday, January 22, 2013

March 2013 $SPX Iron Condor

March $SPX Iron Condor 1355/1360/1560/1565 for 0.75 credit.

BUY 5 March 1355 PUT @ 4.50
SELL 5 March 1360 PUT @4.90

SELL 5 March 1560 CALL @1.85
BUY 5 March 1565 CALL @1.50


Credit: $0.75 (0.75 * 100 * 5 = $375)
Margin: $4.25 (4.25 * 100 * 5 = $2125)
Break-even points: 1360.75 and 1559.25 (Around 1487 when I entered the trade)
Probability of success: 80.44% when the trade was opened
Days to expiration: 51
Max return on margin: 17.65%
Commissions: $30.00 (Assuming a very unfavorable $1.50 per contract)

A chart of the SPX at market close on Tuesday, January 22, 2013 for future reference.

(Click on image to enlarge)


Check out Track Record for 2013

Related Articles:
Weekend Portfolio Analysis (01-26-2013)
Managing RUT Options positions
Weekend Portfolio Analysis (02-09-2013)
Weekend Portfolio Analysis (02-16-2013)
Weekend Portfolio Analysis (03-01-2013)
Handling SPX Positions. Managing a threatened Iron Condor, plus taking profit on a Bull Put spread 

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2 comments:

  1. The weeklies are easier to manage!

    ReplyDelete
  2. Thanks for your comment!
    Well, I think it all depends. It goes from personality issues to free time you have every day for following the markets.
    For me, playing longer term and farther out feels more comfortable.

    Cheers!

    ReplyDelete