Stock / Symbol: Nasdaq ETF / QQQ
Strategy: Iron Condor
Trade entry date / price: 19 Jul 2021 / $353.35
Price at this post: $365
Update / Reasoning: On the last adjustment, I didn't get the breakeven fill I was going for. After the last adjustment, the position was down by $0.21 per contract. I'm just looking to get out of this position for a reasonable small loss and move on to the next trade. With QQQ finishing the day between 364 and 366, the position could be allowed to expire worthless. I'm going to attempt to close it out prior to market. If I'm unable to close out the position, and either the short call or put is ITM, I'll be forced to roll the position out to Friday, Jul 30th.
Trade Exit Order:
BTC 1 QQQ 28Jul21 366 call
STC 1 QQQ 28Jul21 368 call
BTC 1 QQQ 28Jul21 364 put
STC 1 QQQ 28Jul21 362 put
For a max net debit of $0.25 per contract (day order, limit order). The current mid is $0.54
Analysis:
Max Risk: $180
Max Reward: ($21) or -12% with QQQ over $364 and under $366 on Jul 28th
Profit Range: N/A
Estimated Commission (round trip): $14
Anticipated Profit / Loss upon fill: ($46) or -25.5% (pre commission)
