Stock / Symbol: S&P 500 INDEX / SPX
Strategy: Iron Condor
Trade entry date / price: 26 Oct 2020 / $3382.76
Price at this post: $3241
Update: Canceling the exit order and adjusting the position by rolling out the put spread to next Friday's expiration. Going wider on the spread to enable us to lower the break even point. IMPORTANT: make sure you get this adjustment filled before market close today.
Trade Adjustment:
BTC 1 SPX 30Oct20 3245 put
STC 1 SPX 30Oct20 3240 put
STO 1 SPX 06Nov20 3145 put
BTO 1 SPX 06Nov20 3135 put
For a min net credit of $0.20 per contract (day order, limit order). The mid is currently at a credit of $0.25. I was just filled at $0.20
Analysis:
Max Risk: $900
Min Reward: $75 or 8% with SPX at/over $3145 on Nov 6th
Profit Range: SPX over $3144.50 on Nov 6th
Estimated Commission (round trip): $6.50
Suggested Downside Stop at: $3145
