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Thursday, July 20, 2017

September 2017 SPX Unbalanced Iron Condor

Trade Details:

20 September SPX 2310/2300 Credit Put spreads  0.55 Credit ($1100)
5   September SPX 2550/2560 Credit Call spreads 0.80 Credit ($400)

Net Credit: $1,500
Days to Expiration: 57
Once again I decided to go with a 4:1 ratio of Puts to Calls instead of my usual 2:1. By playing 4:1 ratio, I will be able to delay Call side adjustment on this new August position up to SPX 2,545. All in exchange for less overall credit in dollar terms than usual.

Profit picture:
(Click on image to enlarge)


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

Trade Update - August 11, 2017

Closed 5 September SPX 2550/2560 Credit Call spreads 0.10 Dedit
Original Credit was 0.80 per spread. Net gain is 0.70 or $350 in dollar terms for five spreads
The 2310/2320 Put side remains in play


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