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 |
