Trade Update / Exit – DIA Iron Condor

This post is restricted to paying members. To follow are specific new trade details:

Stock / Symbol: DOW JONES ETF / DIA
Strategy: Iron Condor
Trade entry date / price: 01 Oct 2020 / $279.25
Price at this post: $285.22

Update: So far, DIA has stayed within our trade's profitability range of 264 - 292. At this point, the only apparent risk is that DIA will close over $292 tomorrow, which is unlikely. However, just in case, we're going to buy back the short call leg of the trade.

Trade Exit Details:

BTC 1 DIA 16 Oct20 292 call

For a max debit of $0.02 per contract (GTC order, limit order). The mid is currently at a debit of $0.015. I was just filled at $0.02.

Analysis:

Max Risk: $160
Max Reward: $40 or 25% with DIA between $264.10 and $291.90 on Oct 16th
Profit Range: DIA between $263.70 and $292.30 on Oct 16th
Estimated Commission (round trip): $2.60
Suggested Upside Stop at: $292.30
Suggested Downside Stop at: $263.70
Realized Profit / Loss: $38 or 24% (pre commission)

Positive Theta

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