Trade Adjustment : SPX

Stock / Symbol: S&P500 Index / SPX;

Option Strategy: reverse iron condor / double vertical;
Trade entry date / price: 16 Sep / $1993;
Price at this adjustment: $1914;

Adjustment: We're able to close out the put spread here, locking in a 47% return on the trade. We'll keep the call spread on, just in case the market turns positive.

Trade Adjustment Details:

STC 1 SPX Oct15 1860 put
BTC -1 SPX Oct15 1850 put
for a min net credit of 2.50 per contract. The mid is currently at $2.55 (GTC order, limit order). I was filled at $2.50.


Max Risk: $170
Max Reward: $830 or 488% under [private_monthly]1850 and over 2120[/private_monthly] by Oct 16th
Profit Range: [private_monthly]under $1858 and over $2112[/private_monthly] by Oct 16th
Suggested Upside Stop: NA
Suggested Downside Stop: NA
Realized Profit / Loss: $80 or 47% (pre-commission)

Non-members, click here for access

Positive Theta