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Thursday, May 4, 2017

June 2017 SPX Unbalanced Iron Condor

Trade Details:

20 SPX 2250/2240 Credit Put spreads  0.57 Credit ($1140)
5   SPX 2465/2475 Credit Call spreads 0.81 Credit ($405)

Due to the sub 11 VIX, I also added a small long SPY Put

1 SPY 228 Put 0.98 debit ($98)

Net Credit: $1,447
Days to Expiration: 43

Very conservative on the Call side because everything is so close with the low volatility levels, that, well, I don't want to have to lament anything, especially if the market suddenly breaks out.

Profit picture:(Click on image to enlarge)



An SPX Chart for future reference and self-study:
(Click on image to enlarge) 



For details about the management of Unbalanced Elephant positions consider an LTOptions.com membership, where there is also material that discusses how to put this type of position in small accounts too.

Check out 2017 Track Record


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