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Tuesday, December 3, 2019

January 2020 SPX Unbalanced Iron Condor

Trade Details:

4 January SPX 2790/2780 Credit Put spread @0.65 credit each
1 January SPX 3230/3240 Credit Call spread @1.10 credit

Net Credit: $370
Max Risk: $3,630
44 days to Exp.



Profit/Risk Profile


SPX Chart for future reference:



Trade Update - December 16, 2019

Closed Call side at a loss
1 January SPX 3230/3240 Credit Call spread @3.00 debit

Original Credit received had been 1.10
Net loss: 1.90  ($190)

The Put side remains in play. With a $260 credit there, and looking very safe now, it should be a winner, enough to overcome the Call side loss and end up with a small profitable trade overall.



Trade Update - January 6, 2020

Closed Put side
4 January SPX 2790/2780 Credit Put spread @0.05 debit

Original credit received was 0.65 per spread
Net:  0.60 profit per spread = $240

Combining the gains from the Put side with the Dec 16 loss on the Call side, this is a small $50 profit.
Max Risk: $3,630.
Return on Risk: +1.4%



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