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Wednesday, November 22, 2017

January 2018 SPX Unbalanced Iron Condor

Trade Details:

20 January SPX 2440/2450 Credit Put spreads  @0.65 Credit ($1300)
  5 January SPX 2685/2695 Credit Call spreads @0.80 Credit ($400)

Net Credit: $1,700
Days to Expiration:58

The first position of 2018. Conservative Call side once again.

Profit picture:
(Click on image to enlarge)


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



Trade Update - November 30, 2017

SOLD 10 January SPX 2480/2475 Credit Put spreads @0.30 credit
Total credit: $300

BOUGHT 3 January SPY 269 Calls @1.17 debit
Total debit: $351


Position:
20 January SPX 2440/2450 Credit Put spreads  @0.65 Credit ($1300)
  5 January SPX 2685/2695 Credit Call spreads @0.80 Credit ($400)
10 January SPX 2475/2480 Credit Put spreads  @0.30 Credit ($300)
 3 January SPY 269 Long Calls                          @1.17 Debit (-$351)


Trade Update - December 13, 2017

CLOSED all 5 January SPX 2685/2695 Credit Call spreads @4.65 debit
Original credit was 0.80
Net loss 3.85 per spread = $1,925

CLOSED 3 January SPY 269 Long Calls @1.52 credit
Original debit paid was 1.17
Net gain 0.35 per spread = $105

INITIATED 12 January SPX 2745/2750 Credit Call spreads @0.45 credit


Current Position:
20 January SPX 2440/2450 Credit Put spreads  @0.65 Credit ($1300)
10 January SPX 2475/2480 Credit Put spreads  @0.30 Credit ($300)
12 January SPX 2745/2750 Credit Call spreads @0.45 Credit ($540)
Total credit in the open position is now $2,140
Today we suffered a $1,925 loss and made a small $105 gain.
Net-net that is a $1,820 loss today. The remaining credit in the position can overcome this loss, resulting in a small winner at expiration.


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Check out 2018 Track Record


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