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Saturday, November 23, 2013

January 2014 SPX Iron Condor

Yesterday (Friday, November 22) I entered the first position using 2014 options.

The details are bellow:

BUY 4 SPX January 1645 Put @4.90
SELL 4 SPX January 1650 Put @5.10
SELL 4 SPX January 1880 Call @3.90
BUY 4 SPX January 1885 Call @3.30

Credit: 0.80 ($320 for 4 contracts)
Max Risk: 4.20 ($1680)
Days to expiration: 55
Break even points: 1649.20 and 1880.80 (SPX currently sitting at 1804)
Probability of success: 77%

As it is the first trade using 2014 options, I will assume again a starting balance for the model portfolio of $10000. The round number just makes things easier for visualizing the progress and measuring performance.

A chart of the SPX index after market close for future reference
(Click on image to enlarge)
In the mean time, results for 2013 are not final yet as there are some December positions still in play. I'll talk about all that in the Weekend Analysis.

Related Articles:
Weekend Portfolio Analysis (November 30, 2013)
Weekend Portfolio Analysis (December 7, 2013)
Closed 1880/1885 Call side for 75% of its max potential profit 
Weekend Portfolio Analysis (December 21, 2013)
Weekend Portfolio Analysis (December 28, 2013)
Weekend Portfolio Analysis (January 4, 2014)
Weekend Portfolio Analysis (January 11, 2014) 
1645/1650 Put side expires worthless for full profit


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