GLD Iron Condor Look Back Trade

GLD – 8/25/16

Decided to enter a GLD Iron Condor. I normally do not like trading condor’s on anything but the indexes and maybe SPY, DIA or QQQ. However I decided to try my hand at a GLD trade. Overall the trade was successful with a respectable return for a 30 day trade, but I am still not fond of trading condors outside my comfort zone unless everything lines up perfectly.

Most of the time when I enter a condor I set my close price. Usually 25% to 50% of the potential. When that hits I let it close automatically.

Overall risk was $4,000.00 minus the credit I received of $350.00 or $3,650.00. I closed with a profit of $270.00 or a return of 7.4% for a 28 day investment. About 96.43% annualized.

Date

Sym

Action

Exp.

Strike

Price

Contracts

Type

Cost

Balance

08/25/16

GLD

BTO

OCT16

112

-$.14

10

Put

-$140.00

-$140.00

08/25/16

GLD

STO

OCT16

116

$.34

10

Put

$340.00

$200.00

08/25/16

GLD

STO

OCT16

140

$.41

10

Call

$410.00

$610.00

08/25/16

GLD

BTO

OCT16

144

-$.26

10

Call

-$260.00

$350.00

09/22/16

GLD

STC

OCT16

144

$.02

10

Call

$20.00

$370.00

09/22/16

GLD

BTC

OCT16

140

-$.07

10

Call

-$70.00

$300.00

09/22/16

GLD

BTC

OCT16

116

-$.04

10

Put

-$40.00

$260.00

09/22/16

GLD

STC

OCT16

112

$.01

10

Put

$10.00

$270.00

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