EWZ – 9/28/19 – Iron Condor

EWZ – 9/28/18 – Iron Condor

Looking to stay active I decided on an Iron Condor in EWZ on 9/28. Implied Volatility was at 79 and coming down from 100 so there was good premium still to be had.

With EWZ trading at $34.14 I sold the 11/16 $40 Call and purchased the $43 Call. I also sold the $29 Put and purchased the $26 Put to finish out my Iron Condor.

My break even was $28.06 and $40.94 which I felt pretty good about going into the trade. I set my GTC order at about 50% of my potential $180.00 maximum gain with a risk of $412.00.

EWZ had been down when I entered the trade and made a larger move to the upside than I felt it would. I had been in this trade a long time on 11/8 so I decided to get out of it instead of letting the odds play out for a small profit. Might have been alright to have stayed in but with expiration closing in and because of the length of the trade I decided to close.

On 11/8 with EWZ at $39.91 I closed the trade for a profit of $10.00 or about 2.43% over 41 days. Not my best trade for sure but, I did not lose any money.

Date EXP Strike Price Ct C/P Cost Balance
09/28/18 SO 11/16/18 $40.00 $0.63 2 C $126.00 $126.00
09/28/18 BO 11/16/18 $43.00 $0.19 2 C -$42.00 $84.00
09/28/18 SO 11/16/18 $29.00 $0.77 2 P $154.00 $238.00
09/28/18 BO 11/16/18 $26.00 $0.27 2 P -$58.00 $180.00
11/8/18 BC 11/16/18 $40.00 $0.86 2 C -$172.00 $8.00
11/08/18 SC 11/16/18 $43.00 $0.05 2 C $10.00 $18.00
11/08/18 BC 11/16/18 $29.00 $0.01 2 P -$9.00 $9.00
11/08/18 SC 11/16/18 $26.00 $0.01 2 P $1.00 $10.00
Profit of: $10.00

 

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