Stock / Symbol: S&P 500 INDEX / SPX
Strategy: Iron Condor
Trade entry date / price: 26 Oct 2020 / $3382.76
Price at this post: $3251
Update: With SPX in real danger of closing the day under our short put strike, we're adjusting our exit order, shooing for a break even on the trade. If we're not filled by 12pm PST, we'll cancel the sell order and roll out the put spread to next Friday's expiration.
Exit Order Adjustment:
BTC 1 SPX 30Oct20 3245 put
STC 1 SPX 30Oct20 3240 put
For a max net debit of $0.55 per contract (day order, limit order). The mid is currently at a debit of $.185. I have not yet been filled.
Analysis:
Max Risk: $445
Max Reward: $55 or 12% with SPX between $3245 and $3550 on Oct 30th
Profit Range: SPX between $3244.75 and $3550.25 on Oct 30th
Estimated Commission (round trip): $3.90
Suggested Upside Stop at: $3550
Suggested Downside Stop at: $3245
Anticipated Profit / Loss upon fill: $0 (pre commission)
