Stock / Symbol: S&P500 Index / SPX
Option Strategy: [private_monthly]iron condor[/private_monthly]
Price at trade post: $2077
Reasoning: Opening up an Iron Condor here with SPX for April option expiration. Working with a Standard deviation of[private_monthly] +/- 95[/private_monthly] by Apr 17th, and giving some more room to the downside, I'm selling the [private_monthly]2195 calls and 1850 puts[/private_monthly] and covering with options 10 more points OTM. The greeks going into this trade are: -0.9 delta, 8.4 theta, and -29 vega.
Trade Details:[private_monthly]
STO -2 SPX Apr15 2195 calls
BTO 2 SPX Apr15 2205 calls
STO -2 SPX Apr15 1850 puts
BTO 2 SPX Apr15 1840 puts
for a min net credit of 0.55 per contract. The mid is currently at $0.55 (GTC order, limit order).Note: it may take a few days to get filled
Requirements:
Cost/Proceeds ($110)
Option Requirement $2,000
Total Requirements $1,890
Estimated Commission $12
[/private_monthly]
Max Risk: $1,890
Max Reward: $110 or 6.0% between [private_monthly]1850 - 2200[/private_monthly] by Apr 17th
Profit Range: between $1849 and [private_monthly]$2196[/private_monthly]
Suggested Upside Stop @ $2130
Suggested Downside Stop @ $1975
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