This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: Apple / AAPL
Option Strategy: Iron Condor
Trade entry date: 27 Sep 2021 / $145
Price at this post: $143.71
Update / Reasoning: With AAPL trading pretty close to where it was upon position entry, we're just about at the sweet spot on the risk graph. Since the position is already up over 15%, I'm going to take profits per my plan at the onset of this trade. The current net open position Greeks are: 3.3 Delta, -2.3 Gamma, 4.1 Theta and -5.0 Vega.
Trade Exit Order:
BTC 1 AAPL 29Oct21 155 call
STC 1 AAPL 29Oct21 160 call
BTC 1 AAPL 29Oct21 135 put
STC 1 AAPL 29Oct21 130 put
For a max net debit of $0.55 per contract (GTC order, limit order). The mid is currently at a debit of $0.54. I was just filled at $0.53
Analysis:
Max Risk: $385
Max Reward: $115 or 30% with AAPL between $135 and $155 by Oct 29th
Profit Range: AAPL between $135 and $155 by Oct 29th
Commission (round trip): $5.20
Realized Profit / Loss: $62 or 16.1% (pre commission)
