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[CLOSED] – Unbalanced Iron Condor in RUT

November 13, 2017 By Steven Place



Update: November 28th, 2017



Update: December 4th, 2017



Update: December 20th, 2017

Closing the put spread and cut the upside risk.


Update: December 6th, 2017

Rebalancing the trade into this pullback.



Update: January 2nd, 2018

Closing out the call spread and hedge for profits.



P/L and Margin Calculations

Assuming trade size of 10 iron condors

Open IC
Half Size Jan 1570/1580 Bear Call Spread @1.05
Jan 1360/1350 Put Spread @0.95
Margin: 8475

Roll #1
Buy to Close Jan 1570/1580 Call Spread @3.20
Sell to Open 2x Jan 1600/1610 Call Spread @1.60
Realized Loss of -1075
Margin: 8475

Close #1
Buy to Close Jan 1360/1350 Put Spread @0.30
Realized Gain of 650
Margin: 8775

Add #1
Sell to Open Jan 1410/1400 Put Spread @0.80
Margin: 7975

Close #2:
Buy to Close Jan 1410/1400 Put Spread @.25
Realized Gain of 550
Margin: 8225

Hedge #1:
Buy to Open 31Jan18 1630 Call @2.85
Margin: 8795

Close #3: 
Buy to Close Jan 1600/1610 Call Spread @0.35
Realized Gain of 1250

Close #4:
Sell to Close 31Jan18 1630 Call @0.75
Realized Loss of 420

Aggregate P/L

Call Spread #1: -1075
Put Spread #1: 650
Put Spread #2: 550
Hedge: -420
Call Spread #2: 1250

Total P/L: 955

Disclaimer

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