Stock / Symbol: Nasdaq 100 / NDX
Option Strategy:iron condor
Trade entry date / price: Mar 15 / $2795
Price at this post: $2814
Reasoning: Currently, this position's greeks are: -3.3 delta(neutral), 14.8 theta, and -64.4 vega. Although the trade was put on (and still is) with a neutral delta, I did skew it to the downside by putting on more upside risk. With the position up over 5% already, I'm going to take profits here to protect against an upside pop in the market.
Trade Details:
BTC -1 NDX Apr13 2900 call
STC 1 NDX Apr13 2925 call
BTC -1 NDX Apr13 2675 put
STC 1 NDX Apr13 2660 put
for a max net debit of $2.55 per contract (day order, limit order). The mid is current at 2.45.
Max Risk: $2130
Max Reward: $370 or 17.3% between $2675 and $2900[/private_monthly] by Apr 19
Profit Range: $2672 to $2902 by Apr 19
Suggested Upside stop: @ $2850
Suggested Downside stop: @ $2700
Realized Profit / Loss upon fill: $115 or 5.4% (pre-commission)
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