Stock / Symbol: iShares Russell 2000 ETF / IWM
Option Strategy: Iron Condor
Trade entry date / price: 30 Aug 2021 / $226.43
Price at this post: $225.40
Reasoning: With IWM essentially at the same level as it was upon entry, this position is already up over 25%. I'm going to see if I can close out this position today, and net about a 30% return. The net position Greeks are currently : 2.0 Delta, -6.0 Gama, 19.6 Theta and -3.6 Vega.
Trade ExitDetails:
BTC 1 IWM 3Sep21 229 call
STC 1 IWM 3Sep21 231 call
BTC 1 IWM 3Sep21 223 put
STC 1 IWM 3Sep21 221 put
For a max net debit of $0.50 per contract (GTC order, limit order). The mid is currently at a debit of $0.53. I have not yet been filled.
Analysis:
Max Risk: $115
Max Reward: $85 or 73% with IWM trading between $223 and $229 by Sep 3rd
Profit Range: IWM trading between $223 and $229 by Sep 3rd
Estimated Commission (round trip): $5.20
Anticipated Profit / Loss upon fill: $35 or 30% (pre commission)
