We’re going to take a loss on this trade. It’s sitting around a -1.5x credit loss which is our normal stop loss point on iron condors.
I want to impress upon you how important it is not to try and massage the trade back to a profit. It is MUCH MUCH easier and simpler to get profits on a new trade than it is to try and turn it into a winner.
Here’s the closing order:
|IncomeLab Order Ticket|
|STC||SPX||6 JAN 16||2170||Call|
|BTC||SPX||6 JAN 16||2180||Call|
|BTC||SPX||6 JAN 16||2300||Put|
|STC||SPX||6 JAN 16||2310||Put|