QQQ Iron Condor – 9/10/18

QQQ – 9/10/18 – Iron Condor

Decided to place a QQQ trade on 9/10, really the credit I got was not all that great when I entered the trade. I was trying to stay in the market and liked the strikes I was able to get so decided to go for it.

When I entered this trade it had about a 66% chance of success if held to expiration. With QQQ trading at $181.35 I sold the 10/26 $192.50 Call and purchased the $195.00 Call to cover it. I finished out my Iron Condor by selling the $170.00 Put and purchasing the $167.50 Put.

Part of the reason my credit wasn’t all that great was because I used a $2.50 spread. A larger spread would have given me a larger credit.

I was able to close this trade on 10/4 for a profit of $42.00 or about 10.50%.

Date   EXP Strike Price Ct C/P Cost Balance
09/10/18 SO 10/26/18 $192.50 $0.47 2 C $94.00 $94.00
09/10/18 BO 10/26/18 $195.00 $0.33 2 C -$46.00 $48.00
09/10/18 SO 10/26/18 $170.00 $1.55 2 P $310.00 $358.00
09/10/18 BO 10/26/18 $167.50 $1.25 2 P -$258.00 $100.00
10/04/18 BC 10/26/18 $192.50 $0.26 2 C -$52.00 $48.00
10/04/18 SC 10/26/18 $195.00 $0.10 2 C $20.00 $68.00
10/04/18 BC 10/26/18 $170.00 $0.38 2 P -$76.00 -$8.00
10/04/18 SC 10/26/18 $167.50 $0.29 2 P $50.00 $42.00
Profit of: $42.00

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