May 2013 $RUT Iron Condor

The first trade of the May 2013 expiration cycle was entered today during afternoon hours

$Rut 850/855/1000/1005 iron condor entered for 0.85 credit. May 2013 expiration
— The Lazy Trader (@lazytrading) April 1, 2013

Buy 4 RUT May 850 Put    @3.20
Sell 4 RUT May 855 Put    @3.50
Sell 4 RUT May 1000 Call @2.35
Buy 4 RUT May 1005 Call @1.80

Credit: $0.85 (0.85 * 100 * 4 = $340)
Margin: $4.15 (4.15 * 100 * 4 = $1660)
Break-even points: 854.15 and 1005.85 (RUT was around 950 when I entered the trade)
Probability of success: 78.05%
Days to expiration: 45
Max return on margin: 20.48%
Commissions: $24 (Assuming an unfavorable $1.50 per contract)

Finally a chart of RUT at market close for future reference

I'd like to take this position as close to expiration as possible.

Check out Track record for 2013

Related Articles
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Weekend Portfolio Analysis (04-13-2013)
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Closed May 2013 RUT 855/850 Bull Put Spread
Weekend Portfolio Analysis (04-27-2013)
Weekend Portfolio Analysis (05-04-2013)

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