SPX 26 JUL KISS Iron Condor (583)

IncomeLab Forum Forums Income Lab SPX 26 JUL KISS Iron Condor (583)

This topic contains 5 replies, has 2 voices, and was last updated by  Igor 1 year, 11 months ago.

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  • #8189

    Igor
    Keymaster

    SPX at 2441
    VIX at 9.92

    We’re going to put on an Iron Condor in 26 JUL WEEKLY expiration cycle with 30 days until expiration. These options expire on WED. We’re selling:

    SPX 2365/2360 Bull Put spread
    SPX 2495/2500 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 26 JUL 17 2500 Call
    STO SPX 26 JUL 17 2495 Call
    STO SPX 26 JUL 17 2365 Put
    BTO SPX 26 JUL 17 2360 Put
    Total Credit: $0.90

    #8191

    Igor
    Keymaster

    Igor – It would be great to know why you went for another KISS Iron Condor – rather than an ICBase Iron Condor – Many thanks

    #8192

    Igor
    Keymaster

    Hi,

    We closed previous KISS IC and now we’re looking at a new entry. This trade could be a mechanical trade, just like ICBASE is, as long as we have a good risk management plan.

    #8195

    Igor
    Keymaster

    We’re going to adjust strikes and try this trade again:

    2490/2495 Bear Call spread
    2365/2360 Bull Put spread

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    BTO SPX 26 JUL 17 2495 Call
    STO SPX 26 JUL 17 2490 Call
    STO SPX 26 JUL 17 2365 Put
    BTO SPX 26 JUL 17 2360 Put
    Total Credit: $0.80-$0.90

    #8206

    Igor
    Keymaster

    Igor – Have you been filled on this trade yet?
    Many thanks

    #8207

    Igor
    Keymaster
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