Stock / Symbol: S&P500 Index / SPX
Option Strategy: [private_monthly]iron condor[/private_monthly]
Trade entry date / price: Dec 20 / $1822
Price at this post: $1834
Reasoning: This trade is already very close to it's full profit potential. Going to enter in a GTC order to close for a nice profit. Barring a wild move in the market, this order should get filled sometime between today and Monday. The current greeks are: -3.7 delta, -13.6 theta, and -0.1 vega.
Closing Trade Details:
BTC -2 SPX Jan14 1890 calls
STC 2 SPX Jan14 1900 calls
BTC -2 SPX Jan14 1720 puts
STC 2 SPX Jan14 1710 puts
for a max net debit of 0.15 per contract. The mid is currently at $0.00 (GTC order, limit order).
Max Risk: $1,830
Max Reward: $170 (entered for credit of $0.85) or 9.3% @ [private_monthly]1720 - 1890[/private_monthly] by Jan 17
Profit Range: between $1719 and [private_monthly]$1891[/private_monthly]
Suggested Upside Stop @ $1855
Suggested Downside Stop @ $1770
Profit / Loss upon fill: $140 or 7.65%
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