Stock / Symbol:Nasdaq 100 / NDX
Option Strategy: iron condor
Trade entry date / price: May 16 / $3014.50
Price at this post: $2992
Reasoning: Less than 2 weeks into the trade, we're up 6%. Going to see if we can take the money and run to avoid the risk associated with a big up or down move in the market. At the moment, the trade's Greeks are: 0.23 delta, 7.1 theta, and -26 vega.
Closing Trade Details:
BTC -1 NDX Jun13 2765 put
STC 1 NDX Jun13 2740 put
BTC -1 NDX Jun13 3175 call
STC 1 NDX Jun13 3200 call
for a max net debit of $1.05 per contract. (GTC order, limit order). The current mid is 1.10
Max Risk: $2260 (reduced from $2,375)
Max Reward: $240 or 10.6 % between $2765 and $3175 by Jun 21
Profit Range: $2765 to $3175 by Jun 21
Suggested Upside stop: @ $3088
Suggested Downside stop: @$2875
Profit / Loss upon fill: $138 or 6.1% (pre-commission)
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