Home › Forums › Income Lab › SPX 31 AUG Iron Condor (586) › Reply To: SPX 31 AUG Iron Condor (586)
August 18, 2017 at 10:28 am
#8399
IncomeLab (Old)
Participant
SPX trading around our short 2425 Put. We’re going to buy a put spread to re-balance NET delta of this position. Right now we have (15) 2425/2415 Bull Put spreads. We’re going to BUY TO OPEN (10) 2435/2425 Put debit spreads or 2/3 size of our short put spreads. This will take NET delta from +100 to about +25 and increase theta.
IncomeLab Order Ticket | ||||
Type | Asset | Duration | Strike | C/P |
---|---|---|---|---|
BTO | SPX | 31 AUG | 2435 | Put |
STO | SPX | 31 AUG | 2425 | Put |
Total Debit: | $3.90 |
P/L graph
Note: We’re holding this position vs our MAL. If at anytime we’re close to hitting that number, we’ll close everything out and move on.