Stock / Symbol: Facebook / FB
Strategy: Reverse Iron Condor
Trade entry date / price: 27 Nov 2020 / $278.50
Trade exit date / price: 17 Dec 2020 / $276.15
Reasoning: Downside stop hit. Exiting the position here for a loss. This is a painful reminder of how difficult it is to pick a direction.
Trade Exit Order:
First, Cancel this order:
STC 1 FB 15Jan21 285 call
BTC 1 FB 15Jan21 295 call
For a min net credit of $2.70 per contract (day order, limit order). The mid is currently at a credit of $2.90. Try to get filled as close to the mid as possible. I was just filled at $2.85
Analysis:
Max Risk: $425 (adjusted down from $750)
Max Reward: $500 or 66% with FB over $295 by Jan 21st
Profit Range: FB at/over $290 at market close on Jan 21st
Estimated Commission (round trip): $5.20
Suggested downside stop @ 276.50
Realized Profit / Loss: ($124) or -16.5%
