SPX 23JUN Iron Condor (529)

IncomeLab Forum Forums Income Lab SPX 23JUN Iron Condor (529)

This topic contains 22 replies, has 4 voices, and was last updated by  Igor 2 years, 2 months ago.

Viewing 8 posts - 16 through 23 (of 23 total)
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  • #8021

    Igor
    Keymaster

    We’re going to BUY TO CLOSE 2275/2265 Bull Put spread with 24 days until expiration. This leaves 2465/2475 Bear Call spread.

    We might sell another round of puts but with time running down we’d have to trade closer to ATM and risk/reward may not make sense. Best case for this trade is to BTC call spread for .40c or less to close out this trade.

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    BTC SPX 23 JUN 17 2275 Put
    STC SPX 23 JUN 17 2265 Put
    Total Debit: $0.25

    #8024

    Igor
    Keymaster

    We’re going to BUY TO CLOSE 2465/2475 Bear Call spread here

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    BTC SPX 23 JUN 17 2465 Call
    STC SPX 23 JUN 17 2475 Call
    Total Debit: $0.50

    #8045

    Igor
    Keymaster

    Igor
    – Is there an opportunity to roll-up the Bull PUTs?
    – Would 2370/2360 be logical?
    Many thanks

    #8047

    Igor
    Keymaster

    This trade was closed:

    http://trades.iwopremium.com/forums/topic/spx-23jun-iron-condor/page/2/#post-8021
    http://trades.iwopremium.com/forums/topic/spx-23jun-iron-condor/page/2/#post-8024

    However, selling a put spread with 16 days to expiration may not be the best trade here. 2370/2360 is trading for about .60c. Unless SPX trades much higher that premium is going to stick and this put spread will need to be held through expiration to collect max profit. IF SPX trades 30 points lower over the next 8 days this put will be trading around 1.20 – so risk reward isn’t there.

    #8086

    Igor
    Keymaster

    Igor – I still have a 23JUN17 IC open. It’s still going well and I am still squeezing juice.
    – When should I exit to avoid Gamma Risk issues in the last week?
    – My short strikes are still 50 and 54 SPX points away from the underlying.
    – Many thanks

    #8099

    Igor
    Keymaster

    I would try to be out of a trade a week before expiration.

    #8111

    Igor
    Keymaster

    Igor
    – This Trade seems to have gone well – well done.
    – What is it’s current status?
    – I note expiry is very close and we are now in “Gamma Risk” week.
    – Many thanks

    #8114

    Igor
    Keymaster
Viewing 8 posts - 16 through 23 (of 23 total)

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