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Thursday, October 22, 2015

December SPX unbalanced Iron Condor

Yesterday I played the first position of the December 2015 expiration cycle. This may be the last trade with 2015 options. Here's my tweet:


Trade Details:
Buy 4 SPX December 1790 Put @7.15
Sell 4 SPX December 1795 Put @7.45
Sell 2 SPX December 2135 Call @3.80
Buy 2 SPX December 2140 Call @3.30

Net Credit: $220, made up of $120 from the Puts + $100 from the Calls.
Expiration: 58 days
Break-even point: 1794 and 2136
SPX Price: 2018.94


An SPX chart for future reference:
(Click on image to enlarge)

Current positions in the Portfolio:

November SPX 1630/1640/2100/2110 Iron Condor
$350 credit, 4 weeks to expiration, 81% probability of success. Still a little concerned with the Call side.

November RUT 1235/1240 Credit Call Spread
$106 credit, 4 weeks to expiration, 90% probability of success. Looking very good here.

December SPX 1790/1795/2135/2140 unbalanced Iron Condor
$220 credit. 8 weeks to expiration. The trade described in this article. A little infant. Obviously safe for now.


If you are interested in a responsible and sustainable way of trading options for consistent income, consider acquiring LTOptions, my options trading system revealed to the last detail.

Check out 2015 Track Record

Related Articles:
Adjusted entire Iron Condor on Oct 28, 2015
Weekend Portfolio Analysis (November 1, 2015) 
Weekend Portfolio Analysis (November 14, 2015)


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