Stock / Symbol: S&P 500 INDEX / SPX
Strategy: Iron Condor
Trade entry date / price: 26 Oct 2020 / $3382.76
Price at this post: $3297
Update: With SPX to trading close to our short put strike, we need to watch this position closely today. Going to enter in an exit order with the idea of getting out of this position asap with a bit of profit. The current Greeks on the position are: 1.7 Delta, 15.5 Theta, and -3.0 Vega. No need to close the call side of the trade as it will definitely expire worthless.
Trade Exit Order:
BTC 1 SPX 30Oct20 3245 put
STC 1 SPX 30Oct20 3240 put
For a max net debit of $0.20 per contract (day order, limit order). The mid is currently at a debit of $0.45. 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: $35 or 7.9% (pre commission)
