Pros: I accomplished my goal of constructing and executing a “first time” D-I-Y Iron Condor following completion of the IC course.
Cons: Premiums on the 14 delta strikes weren’t great, so instrument selection could have been better. Also, round-trip commissions on 10 contracts ate into profit.
As an aside, current price on TLT remains inside the short strikes increasing the probability that both spreads may expire worthless, which would have reduced trade cost.
My call spread short strike is getting squeezed and I’ve looked at rolling it up to 130. I was planning to close this IC Tuesday August 18, which is 30days before expiry. Entering the trade, I thought risk would be to the downside.