Home › Forums › Income Lab › SPX 6 JAN Iron Condor (470) › Reply To: SPX 6 JAN Iron Condor (470)
December 1, 2016 at 8:59 pm
#7258
IncomeLab (Old)
Participant
The goal of this adjustment was to cut NET delta of this Iron Condor in 1/2. My NET delta before the adjustment was -46 so I needed to buy calls that would total +23 delta. I chose to buy two 12 delta calls (total of 24 delta) and that reduced my NET delta of this IC from -46 to -22. Trade ticket shows what calls I used to make the adjustment, but the quantity would be determined by NET delta exposure before the adjustment. Hope this clears it up.