Today I entered the first April 2013 position. A 1375/1380/1580/1585 SPX Iron Condor as follows:
BUY 4 April 1375 Put (@5.90)
SELL 4 April 1380 Put (@6.30)
SELL 4 April 1580 Call (@3.10)
BUY 4 April 1585 Call (@2.65)
Credit: 0.85 ($340)
Margin: 4.15 ($1660)
Days to expiration: 55
Probability of success: 74%
(Click on image to enlarge)
This will be the core April position and will trade the rest around it. No plans to enter anything else at this point until the market makes a sizable move to one of the sides (3% or more).
Finally, as usual a snapshot of the SPX index at market close today, Friday February 22, 2013
(Click on image to enlarge)
Check out 2013 Track Record
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BUY 4 April 1375 Put (@5.90)
SELL 4 April 1380 Put (@6.30)
SELL 4 April 1580 Call (@3.10)
BUY 4 April 1585 Call (@2.65)
Credit: 0.85 ($340)
Margin: 4.15 ($1660)
Days to expiration: 55
Probability of success: 74%
(Click on image to enlarge)
This will be the core April position and will trade the rest around it. No plans to enter anything else at this point until the market makes a sizable move to one of the sides (3% or more).
Finally, as usual a snapshot of the SPX index at market close today, Friday February 22, 2013
(Click on image to enlarge)
Check out 2013 Track Record
Related Articles
Weekend Portfolio Analysis (02-23-2013)
Weekend Portfolio Analysis (03-01-2013)
Weekend Portfolio Analysis (03-10-2013)
Handling SPX Positions. Managing a threatened Iron Condor, plus taking profit on a Bull Put spread
Weekend Portfolio Analysis (03-16-2013)
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