This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: SPDR GOLD ETF / GLD
Strategy: Iron Condor
Trade entry date / price: 22 Oct 2020 / $178.75
Price at this post: $179.25
Update: So far, with GLD trading near our entry price, this trade is performing well. Going to enter in the exit order now with a target of 75% of the trade's profit potential. The position's current Greeks are: 0.7 Delta, 4.9 Theta, and -5.7 Vega.
Trade Exit Order:
BTC 2 GLD 06 Nov20 190 calls
STC 2 GLD 06 Nov20 192.5 calls
BTC 2 GLD 06 Nov20 170 puts
STC 2 GLD 06 Nov20 167.50 puts
For a max net debit of $0.08 per contract (GTC order, limit order). The mid is currently at a debit of $0.17. This order will likely take until early next week to fill.
Analysis:
Max Risk: $434
Max Reward: $66 or 15% with GLD between $170.20 and $189.80 on Nov 6th
Profit Range: GLD between $169.75 and $190.25 on Nov 6th
Estimated Commission (round trip): $10.40
Suggested Upside Stop at: $190
Suggested Downside Stop at: $170
Anticipated Profit / Loss upon fill: $52 or 12% (pre commission)
