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Wednesday, July 29, 2020

September SPX Unbalanced Iron Condor

Trade Details:

4 September SPX 2775/2765 Credit Put spread @0.65 credit each
1 September SPX 3490/3500 Credit Call spread @0.90 credit

Net Credit: $350
Max Risk: $3,650
50 days to Exp.



Profit/Risk Profile


SPX Chart for future reference:



Trade Update - August 7


Closed Call side
1 September SPX 3490/3500 Credit Call spread @2.10 debit

A $120 loss.

Put side remains in play, now looking safer and with a $260 credit.



Trade Update - August 27

Closed Put side
4 September SPX 2775/2765 Credit Put spread @0.10 debit each

Profit of 0.55 per spread for a total of $220 gain


This, combined with the earlier loss on the Call side of $120  results in a net +$100 profitable trade
+2.7% Return on Risk


Check out Track Record


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