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NaughtyPines
Dec 15, 2018 2:00 AM

SPY: CLOSING JAN 18TH 247/250/278/281 IRON CONDOR (LATE POST) 

SPDR S&P 500 ETF TRUSTArca

Description

... for a .90/contract credit (.30/$30 profit/contract).

You know the drill -- mixing and matching profitable call side with profitable put side from iron condors put on over time. Will replace this setup with another iron condor in the same expiry; keeping my risk/buying power effect constant throughout the cycle given the fact that background implied volatility remains high.

If we ever get a massive volatility crush, I'll decrease risk by reducing total units and dry out powder for the next volatility pop.
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