NaughtyPines

ROLLING/MERGING IWM IRON CONDORS

AMEX:IWM   ISHARES RUSSELL 2000 ETF
Doing a little bit of housekeeping here ... . Originally, this started out as two separate IWM             iron condors, one in the June 17th expiration and one in the June 24th expiration.

Today, I covered the short put sides of both of these setups, as they were nearing worthless (each was closed for a $5 debit). With 11 DTE             for the June 17th setup and 18 for the June 24th, I decided to roll the call sides of both up and out to the July 1st 116/119 short call vertical to give the call side additional time to potentially work out, and sold the 109/112 short put vertical in the same expiry to be "net credit" on the roll.

Although I don't gain any particular advantage my merging the two setups into one, it means fewer balls to juggle going forward ... . The combined credit received for the two individual iron condors on setup was about $195, so I'm still looking to exit this merged setup at 50% max of that, or about $98/contract ... .
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