Home › Forums › Income Lab › SPX 8 SEP Iron Condor PLUS (590) › Reply To: SPX 8 SEP Iron Condor PLUS (590)
July 27, 2017 at 1:08 pm
#8308
IncomeLab (Old)
Participant
We’ve been in this trade for 8 days. SPX is pretty much unchanged since entry, volatility is down about 1% and mid price for this IC shows around 4.60
If we can BUY TO CLOSE this Iron Condor for 4.60, we will capture about 50% of profit target in 8 days. An early exit makes sense here because we were looking to capture about 1.00 of premium in about 25 days. Right now, we can take .50c in 8 days (since entry). This is not a ‘must do or else’ type of an exit, just a nice way to manage a winning trade when it makes sense.
IncomeLab Order Ticket | ||||
Type | Asset | Duration | Strike | C/P |
---|---|---|---|---|
STC | SPX | 8 SEP 17 | 2515 | Call |
BTC | SPX | 8 SEP 17 | 2505 | Call |
BTC | SPX | 8 SEP 17 | 2435 | Put |
STC | SPX | 8 SEP 17 | 2425 | Put |
Total Debit: | $4.60 |
P/L graph