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** Iron Condor SPX Jun Cycle

Home › Forums › ** Iron Condor SPX Jun Cycle

  • This topic has 1 reply, 1 voice, and was last updated 6 years, 9 months ago by Steven Place.
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  • April 24, 2014 at 12:44 pm #2177
    Steven Place
    Keymaster

    Going to put on a 200 point wide iron condor in the SPX:

    Sell to open Jun 1760/1750 bull put spread for 1.10
    Sell to open Jun 1960/1970 bear call spread for 1.15

    These are about the 15 delta short strikes.

    spx-iron-condor

    If the SPX moves to 1925, we will roll up the put spread higher, and buy some VXX puts.

    If the SPX moves to 1800 we will buy some out of the money put calendars to hedge.

    May 12, 2014 at 8:43 am #2178
    Steven Place
    Keymaster

    Closing this one out for about a 13% return on risk. I"d chase for more but the market looks like it's going to breakout here so I'd rather stalk reentries than try to adjust a trade gone bad.

    spx

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