-1 SPY 16 Dec 16 198/208/208/218 IRON FLY @ 7.40
Max Profit: 7.40 ($740)
Max Loss: 2.60 ($260)
Break Evens: 215.40 & 200.60
I'll probably take profit around 25-30% here after the binary event on Nov 8th.
Max Profit: 7.40 ($740)
Max Loss: 2.60 ($260)
Break Evens: 215.40 & 200.60
I'll probably take profit around 25-30% here after the binary event on Nov 8th.
Trade active:
I also added a second position @ 7.44 ($744)
Average credit: $7.42
Average credit: $7.42
Trade active:
Added the 16 Dec 16 SPY 205/208/221/224 IRON CONDOR @ 1.07 to hedge some delta here to the upside. Looks like 208 to 214 is going to be the sweet spot here for major profit zones.
Added the 16 Dec 16 SPY 205/208/221/224 IRON CONDOR @ 1.07 to hedge some delta here to the upside. Looks like 208 to 214 is going to be the sweet spot here for major profit zones.
Trade active:
I rolled up my IRON FLY for about a 12.34 debit and re-established this trade as a 210/214/219/223 IRON CONDOR at 4.84 ($484).
My new BEs are 211.58 and 221.42 now in the above photo. If we can stay floating here with Thanksgiving coming up, hopefully I can regain some of these losses back.
I rolled up my IRON FLY for about a 12.34 debit and re-established this trade as a 210/214/219/223 IRON CONDOR at 4.84 ($484).
My new BEs are 211.58 and 221.42 now in the above photo. If we can stay floating here with Thanksgiving coming up, hopefully I can regain some of these losses back.
Trade active:
I rolled up the 210/214 put spread up to the 213/217 put spread in the Dec cycle here for a .08 debit. I paid a debit on the trade (versus a credit I would have received) because I took off 1 unit to lower my risk on the trade. So now I have 2x the 219/223 call spread and only 1x the 213/217 put spread. I think I absorbed $108 in profit through this roll.
This changed my break evens to 214.79 and 221.21. The highlighted green zone is the range where the trade remains profitable.
I rolled up the 210/214 put spread up to the 213/217 put spread in the Dec cycle here for a .08 debit. I paid a debit on the trade (versus a credit I would have received) because I took off 1 unit to lower my risk on the trade. So now I have 2x the 219/223 call spread and only 1x the 213/217 put spread. I think I absorbed $108 in profit through this roll.
This changed my break evens to 214.79 and 221.21. The highlighted green zone is the range where the trade remains profitable.
Comment:
Closed this trade 12/9 for just under it's full loss. I don't see it moving down 5% percent in the next week.