SPX 8 SEP Iron Condor PLUS (590)

IncomeLab Forum Forums Income Lab SPX 8 SEP Iron Condor PLUS (590)

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    Igor
    Keymaster

    SPX at 2471
    VIX at 9.62

    We’re going to put on an Iron Condor Plus in 8 SEP weekly expiration cycle with 51 days until expiration. We’re selling:

    SPX 2435/2425 Bull Put spread
    SPX 2505/2515 Bear Call spread

    Short strike on the put side has a delta around 32 and the short call delta around 30.
    These are 10 point wide credit spreads.

    Our profit target is about 20% of the credit. Our stop is WHEN/IF we’re down the same amount as our profit target, so risking $100 to make $100 (per 1 contract).

    IncomeLab Order Ticket
    Type Asset Duration Strike C/P
    BTO SPX 8 SEP 17 2515 Call
    STO SPX 8 SEP 17 2505 Call
    STO SPX 8 SEP 17 2435 Put
    BTO SPX 8 SEP 17 2425 Put
    Total Credit: 5.00-5.20

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