Stock / Symbol: S&P 500 INDEX / SPX
Strategy: Iron Condor
Trade entry date / price: 26 Oct 2020 / $3382.76
Price at this post: $3375
Update: SPX has rebounded nicely from its lows on Friday. In an attempt to get out of the way of a negative reaction to this evening's election results, we're going to try to get out of the trade today for just a bit better than break even.
Trade Exit Order:
BTC 1 SPX 06Nov20 3145 put
STC 1 SPX 06Nov20 3135 put
For a max net debit of $0.65 per contract (GTC order, limit order). The mid is currently at a debit of $0.75. I have not yet been filled.
Analysis:
Max Risk: $925
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
Anticipated Profit / Loss upon fill: $10 or 1% (pre commission)
