Trade Adjustment : SPY

Stock / Symbol: SPDR S&P 500 ETF / SPY Option Strategy: iron condor Trade entry date: Nov 16 Price at trade entry: $135.85 Price at this adjustment: $142.30 Current Position:[private_monthly] Short -3 SPY Dec12 144 calls Long 3 SPY Dec12 147 calls Short -3 SPY Dec12 132 puts Long 3 SPY Dec12 129 puts [/private_monthly] […]

Trade Adjustment : SPY

Stock / Symbol: SPDR S&P 500 ETF / SPY Option Strategy: iron condor Trade entry date: Nov 16 Price at trade entry: $135.85 Price at this adjustment: $141.00 Reasoning: With our Delta shifting from 4 to -42, I’m going to bring the delta at bit closer to zero by taking a profit on the put […]

New Trade : SPY

Stock / Symbol: SPDR S&P 500 ETF / SPY Option Strategy: [private_monthly] iron condor[/private_monthly] Price at trade post: $135.85 Reasoning: With 35 days left till December expiration, we’re putting on an[private_monthly] Iron Condor on SPY to fit between the current standard deviation calculation of +/- 8 from its current price. Our[private_monthly] Iron Condor[/private_monthly] currently has […]

Closing Trade : SPY

Stock / Symbol: SPDR S&P 500 ETF / SPY Option Strategy: [private_monthly] iron condor[/private_monthly] Trade entry date: Oct 16 Price at trade entry: $146 Adjustment date: Oct 24 Price at adjustment: $141 Price at this post: $138.50 Current Position: Short -4 SPY Nov12 134 puts Long 4 SPY Nov12 132 puts Reasoning: While the remaining […]

Closing Trade : RUT

Stock / Symbol: Russell 2000 / RUT Option Strategy: iron condor Trade entry date: Oct 16 Price at trade entry: $834 Price at trade exit: $823 Reasoning: With this trade up 6% heading into the uncertainty of the election results, I’m closing this trade for a 6% (after-commission) return. You should already be out of […]

Trade Adjustment : SPY

Stock / Symbol: SPDR S&P 500 ETF / SPY Option Strategy: [private_monthly] iron condor[/private_monthly] Price at trade entry: $146 Price at this adjustment: $141 Current Position: [private_monthly] Short -4 SPY Nov12 139 puts Long 4 SPY Nov12 137 puts Adjustment / Reasoning: Yesterday, we were filled on our order to close our the 152/154 call […]

Trade Updates : RUT and SPY

Stock / Symbol: Russell 2000 / RUT Option Strategy: [private_monthly]iron condor[/private_monthly] Price at trade entry: $834 Price at this update: $816.50 Original Position:[private_monthly] Short -2 RUT Nov12 885 calls Long 2 RUT Nov12 895 calls Short -2 RUT Nov12 780 puts Long 2 RUT Nov12 770 puts [/private_monthly] Update: Bought back 885/895 call spread today […]

New Trade : SPY

Stock / Symbol: SPDR S&P 500 ETF / SPY Option Strategy: [private_monthly] iron condor[/private_monthly] Price at trade post: $146 Reasoning: With 30 days left till November expiration, we’re putting on an[private_monthly] Iron Condor on SPY to fit between the current standard deviation calculation of +/- 6.29 from its current price. Our[private_monthly] Iron Condor[/private_monthly] currently has […]

New Trade : RUT

Stock / Symbol: Russell 2000 / RUT Option Strategy: [private_monthly]iron condor[/private_monthly] Price at trade post: $834 Reasoning: With 30 days till November expiration, it’s time to put on a new [private_monthly]Iron Condor on RUT. With an expected deviation of 45 points between now and November expiration, I’m selling the 885 calls and the 780 puts.[/private_monthly] […]

Strategy Overview : Iron Condor

Iron Condors are  created by combining a Bear Call Spread (short 1 closer to the money call + long 1 further from the money call) with a Bull Put Spread (short 1 closer to the money put + long 1 further from the money put). The expiration months and increments between strike prices for all […]