CHRISTMAS PROMOTION
LTOptions at a 33% discount during the Year End Holidays.
Tell me More

Thursday, February 18, 2016

June30 SPX Unbalanced Iron Condor

New position entered during morning hours:

Trade Details:

Buy 8 SPX 1500 June30 Put @15.90
Sell 8 SPX 1525 June30 Put @17.85
Sell 4 SPX 2150 June30 Call @6.45
Buy 4 SPX 2175 June30 Call @3.90

Total Credit: $2,580
Max Risk: $17,420

SPX Chart during morning hours on February 18 for future reference:
(Click on image to enlarge)

Trade Update - March 29, 2016
Put side 1525/1500 closed for 0.40 debit. Profit is 1.55, $1,240 for 8 spreads.
Trade Update - April 19, 2016
Call side 2150/2175 closed for 8.15 debit. A loss of 5.60 (2.55 - 8.15) per spread, $2,240 for 4 spreads.

Deployed a new 2200/2225 Credit Call spread. 8 contracts per leg at 2.60 credit each.
Trade Update - May 5, 2016
The June30 2200/2225 Credit Call spread is closed for 0.60 debit. A gain of 2.00 (2.60 - 0.60) per spread, $1,600 for 8 spreads.

The position is completely closed now.

To sum up, the original 1500/1525/2150/2175 unbalanced Iron Condor resulted in a Net final profit of $600 ($1240 - $2240 + $1600). It had to be defended once as we endured a parabolic move from SPX 1,923 (the day the position was entered) to 2,111 and still came out with a profit in the end while keeping our risks well under control.

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

Check out 2016 Track Record


Go to the bottom of this page in order to see the Legal Stuff

No comments:

Post a Comment