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BookingAlpha Option Trading Advisory

Friday, August 25, 2017

October 2017 SPX Unbalanced Iron Condor

Trade Details:

20 October SPX 2260/2250 Credit Put spreads  0.55 Credit ($1100)
8   October SPX 2540/2545 Credit Call spreads 0.50 Credit ($400)

Net Credit: $1,500
Days to Expiration: 56
Current SPX price barely above the 50-day average, so I'm being very conservative on the Call side here.

Profit picture:
(Click on image to enlarge)

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

Trade Update - September 18, 2017

Closed 8 October SPX 2540/2545 Credit Call spreads 1.05 Dedit
Original Credit was 0.50 per spread.
Net loss is 0.55 or $440 in dollar terms for eight spreads

The 2260/2250 Put side remains in play

Trade Update - October 20, 2017

20 October SPX 2260/2250 Credit Put spreads expire for max profit ($1100)

Combining these gains from the Put side with the earlier losses of the Call side ($440), the October SPX Unbalanced Iron Condor ends up as a $660 winner.

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 2017 Track Record

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