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BookingAlpha Option Trading Advisory

Sunday, July 14, 2013

August $SPX Iron Condor adjustment

With the market on its unstoppable run I closed the 1430/1435/1700/1705 SPX August Iron Condor on Friday

The tweet was a little inaccurate as the original trade consisted of 4 contracts per legs, therefore the loss was $300 and not $225. With a credit of 0.95. The position was closed for 1.70 debit. That's a 0.75 loss which represents $300 in 4 contracts per leg.

The new Iron Condor entered was as follows

Bought 5 SPX August 1560 Put @3.60
Sold 5 SPX August 1565 Put @3.90
Sold 5 SPX August 1745 Call @3.30
Bought 5 SPX August 1750 Call @2.75

5 contracts per leg and a credit of 0.85 for a total credit of $425

Finally a chart of SPX after the close on July 12, 2013 for future reference

(Click on image to enlarge)

Check out Track record for 2013

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