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March 14, 2016 at 12:30 pm
#4980
IncomeLab (Old)
Participant
New Iron Condor (SPX MAY2) is 60 days out. I want to be in sometime between now and 50 days until expiration, so I have time to get in. The important part is IF SPX was to move 30 pts in either direction overnight, I will adjust my short strikes accordingly. DO NOT offer the same IC if SPX moves big. The idea is that I’m looking to sell both bull put and bear call with a short strike’s delta around 10 and I’m looking for around 1.80 credit for this trade.