SPX FEB IRON CONDOR

IncomeLab Forum Forums Income Lab SPX FEB IRON CONDOR

This topic contains 9 replies, has 1 voice, and was last updated by  Igor 5 years, 4 months ago.

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  • #3007

    Igor
    Keymaster

    Sold SPX FEB Iron Condor
    65DTE
    SPX:2003
    IV: 20.08%
    Credit: 160
    Margin: 840
    ROR: 19.04%
    2150/2160 bear call
    1750/1740 bull put

    SOLD -10 IRON CONDOR SPX 100 FEB 15 2150/2160/1750/1740 CALL/PUT @1.60

    #3016

    Igor
    Keymaster

    2150 call delta went from 9 to 20 in 2 trading days..

    I am going to buy 1 2160 call (17 delta) to cut my position directional exposure from +30 delta to +13

    THE GREEKS:

    #3015

    Igor
    Keymaster

    I might do a greedy pig roll here with SPX around 2057 and my bull put spread is 300 pts under the market:

    1. Close original bull put spread for .10c debit
    2. Open a new bull put spread closer to market for additional credit (will help to pay for the earlier adjustment, see above)

    BOT +10 VERTICAL SPX 100 FEB 15 1750/1740 PUT @.10

    #3014

    Igor
    Keymaster

    It’s time for the PIG-ROLL:

    SOLD -10 VERTICAL SPX 100 FEB 15 1940/1930 PUT @.85 CBOE

    New P/L graph:

    #3013

    Igor
    Keymaster

    Closed FEB 2150/2160 bear call:

    BOT +10 VERTICAL SPX 100 FEB 15 2150/2160 CALL @.05 CBOE

    New P/L:

    With 18 DTE I may just leave this alone, keeping an eye on the put side as short strike’s delta is around 23 right now.

    #3012

    Igor
    Keymaster

    Sold 1/2 size 2080/2090 bear calls vs 1940/1930 bull puts to reduce directional exposure and increase theta a little bit:

    SOLD -5 VERTICAL SPX 100 FEB 15 2080/2090 CALL @.90

    Did I say I was going to leave this trade alone after last adjustment? Yeah..

    #3011

    Igor
    Keymaster

    Closed 1930/1940 bull put spread for .20c debit:

    BOT +10 VERTICAL SPX 100 FEB 15 1940/1930 PUT @.20 CBOE

    Opened 2070/2050 bull put for 7.45 cr:

    SOLD -5 VERTICAL SPX 100 FEB 15 2070/2050 PUT @7.45 CBOE

    New P/L:

    #3010

    Igor
    Keymaster

    Bought back 2 of 5 2080/2090 bear calls for 5.20
    Looking for this breakout in SPX to hold and run to ATH.

    New P/L:

    #3009

    Igor
    Keymaster

    Closed 2080/2090 bear call:

    BOT +3 VERTICAL SPX 100 FEB 15 2080/2090 CALL @7.70 CBOE

    #3008

    Igor
    Keymaster

    Expired 2050/2070 bull put spread.

    P/L: 2105
    Max Margin: 9340
    ROR: 22.53%

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