Stock / Symbol: Advanced Micro Devices / AMD
Strategy: Iron Condor / Diagonal Put Spread
Trade entry date / price: 31 Dec 2021 / $145.85
Price at this post: $115.65
Reasoning:
The short call is expiring tomorrow and is nearly ITM. That, plus the position is now sitting on enough profit to make up for the loss incurred on the initial Iron Condor. So, I'm closing the position here. The net position Greeks are currently: 0.2 Delta, -5.7 Gamma, 103.5 Theta, and 22.5 Vega.
Trade exit order:
STC 1 AMD 17Jun22 110 put
BTC 1 AMD 18Feb22 115 put
For a min net credit of $9.50 per contract (GTC order, limit order). The mid is currently at a credit of $9.50. I have not yet been filled.
Analysis:
Max Risk: $1450 (up from $520)
Max Reward: $200 or 13.8% with AMD at $115 on Feb 18th
Profit Range: AMD between $111 and $125 by market close on Feb 18th
Estimated Commission (round trip): $18
Anticipated Profit / Loss upon fill: $15 or 1% (accounts for $250 loss on initial Iron Condor)
