Stock / Symbol: Google / GOOGL
Strategy: Reverse Iron Condor
Trade entry date / price: 1 Dec 2020 / $1820
Price at this post: $1840
Update / Reasoning: I'd prefer not to hold this position over the weekend, so I'm lowering the credit per contract a bit on the exit order. The current Greeks on this position are: 1.2 Delta, -6.6 Theta, and 9.9 Vega.
Exit Order Adjustment:
STC 1 GOOGL 24Dec20 1860 call
BTC 1 GOOGL 24Dec20 1870 call
STC 1 GOOGL 24Dec20 1750 put
BTC 1 GOOGL 24Dec20 1740 put
For a min net credit of $6.75 per contract (GTC order, limit order). The mid is currently at a credit of $6.55.
Analysis:
Max Risk: $625
Max Reward: $375 or 60% with GOOGL either under $1740 (or) over $1870 by Dec 24th
Profit Range: GOOGL at/under $1743(or) at/over $1867 at market close on Dec 24th
Estimated Commission (round trip): $5.20
Suggested Stop: position down ($70) or more
Anticipated Profit / Loss upon fill: $50 or 8% (pre commission)
