Stock / Symbol:Nasdaq 100 / NDX
Option Strategy: [private_monthly]iron condor[/private_monthly]
Trend entry date / price: Apr 17 / $2780
Price at this post: $2881
Reasoning: Our upside stop of 2875 was hit so I'm rolling up the call spread portion of the trade. This adjustment will eat into the potential profits but it's important to mind the risks with credit spreads like iron condors. The resulting Greeks will be: -2.9 Delta, 16.15 Theta, and -45 Vega. The trade's max profit will be reduced from $380 to around $185 or 8.6%.
Trade Details:[private_monthly]
BTC -1 NDX May13 2950 call
STC 1 NDX May13 2975 call
STO -1 NDX May13 2980 call
BTO 1 NDX May13 3005 call
for a max net debit of $2.00 per contract. (day order, limit order). The current mid is $1.80. Try for the mid +0.10.
Max Risk: $2,180
Max Reward: $185 or 8.6%[private_monthly] between $2650 and $2980[/private_monthly] by May 17[private_monthly]
Profit Range: $2650 to $2980 by May 17
Suggested Upside stop: @ $2919
Suggested Downside stop: $2775
[/private_monthly]
Non-members, click here for access
