SPX 12 JUL KISS Iron Condor (568)

IncomeLab Forum Forums Income Lab SPX 12 JUL KISS Iron Condor (568)

This topic contains 2 replies, has 1 voice, and was last updated by  Igor 2 years, 2 months ago.

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  • #8072

    Igor
    Keymaster

    SPX at 2421
    VIX at 12.26

    We’re going to put on an Iron Condor in 12 JUL WEEKLY expiration cycle with 30 days until expiration. These options expire on WED. We’re selling:

    SPX 2325/2320 Bull Put spread
    SPX 2485/2490 Bear Call spread

    Short strike on the put side has a delta around 15 and the short call delta around 10.
    These are 5 point wide credit spreads.

    Risk Profile:

    Risk Management:
    Profit Target: .60c
    MAL: 2X PT ($1.20)
    If either side of this IC goes to .05c – this is a good way to leg out of the trade. This IC has a 30-day duration and there will be NO ADJUSTMENTS.

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    BTO SPX 12 JUL 17 2490 Call
    STO SPX 12 JUL 17 2485 Call
    STO SPX 12 JUL 17 2325 Put
    BTO SPX 12 JUL 17 2320 Put
    Total Credit: $0.80

    #8084

    Igor
    Keymaster

    We’re going to move strikes to:

    2355/2350 Bull Put spread
    2485/2490 Bear Call spread

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    BTO SPX 12 JUL 17 2490 Call
    STO SPX 12 JUL 17 2485 Call
    STO SPX 12 JUL 17 2355 Put
    BTO SPX 12 JUL 17 2350 Put
    Total Credit: $0.90

    Credit: .90c
    Margin: 4.10
    Profit Target: .60c
    MAL: -1.20

    *If either side of this IC goes to .05c – this is a good way to leg out of the trade. This IC has a 30-day duration and there will be NO ADJUSTMENTS.

    #8156

    Igor
    Keymaster

    We’re going to BUY TO CLOSE this Iron Condor if we can capture 50% or more of Max Profit

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    STC SPX 12 JUL 17 2490 Call
    BTC SPX 12 JUL 17 2485 Call
    BTC SPX 12 JUL 17 2355 Put
    STC SPX 12 JUL 17 2350 Put
    Total Debit: $0.40

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