Sold September $SPX 1980/1970 Credit Put spread for 0.60 credit, creating Iron Condor with existing 2260/2270 Call side— The Lazy Trader (@lazytrading) July 27, 2016
SELL 20 SPX September 1980 Put (@8.10)
BUY 20 SPX September 1970 Put (@7.50)
Net Credit: 0.60 ($1,200)
Max risk: 9.40 ($18,800)
Days to expiration: 50.
This CPS complete a September Iron Condor, with the existing 2260/2270 Call spread side which is in play since July 12. The real max risk for the Iron Condor is $17,000, with a total Credit received of $3,000.
Finally an SPX chart at market close for future reference:
(Click on image to enlarge)
Position expires successfully. $1,200 gain.
Check out 2016 Track Record