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)
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
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
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
Trade Update - August 31, 2017
Closed 20 September SPX 2310/2300 Credit Put spreads 0.10 Dedit
Original Credit was 0.55 per spread. Net gain is 0.45 or $900 in dollar terms for twenty spreads
The entire 2300/2310/2550/2560 Unbalanced Iron Condor is now closed.
Combining the gains from the Call side (closed on August 11) and the Put side (August 31), the total gain is $1,250
Closed 20 September SPX 2310/2300 Credit Put spreads 0.10 Dedit
Original Credit was 0.55 per spread. Net gain is 0.45 or $900 in dollar terms for twenty spreads
The entire 2300/2310/2550/2560 Unbalanced Iron Condor is now closed.
Combining the gains from the Call side (closed on August 11) and the Put side (August 31), the total gain is $1,250
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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