SPX – 07/31/2018 – Iron Condor
I started this trade looking for an Iron Condor, I entered the Put side first and was filled in about a day. Next I entered an order for my Calls but … I was never able to get filled at a level I was comfortable with.
SPX was trading near all time highs and I just could not get the Call side I wanted. Therefore, this trade ended up being a Bull Put Credit Spread. I decided to leave it in the Condor section because it was meant as an Condor.
When I entered my Puts SPX was trading at $2816.00. I sold the 9/21/18 $2620/$2595 spread for $1.25. My total risk was $11,906.25 with a credit of $593.75.
If I held to close my return would be about 4.9%. I set a GTC order to keep a 3.67% return and waited.
On 8/15 SPX had a fairly large down day. It hit $2800 but was still a LONG way away from threatening my short Put.
On 8/27 SPX spiked up to $2895 and my GTC order hit, closing me out for my target profit.
| Date | EXP | Strike | Price | Ct | C/P | Cost | Balance | |
| 07/31/18 | SO | 09/21/18 | 2620 | 10.4 | 5 | P | $5,196.75 | $5,196.75 |
| 07/31/18 | BO | 09/21/18 | 2595 | 9.15 | 5 | P | -$4,603.00 | $593.75 |
| 08/27/18 | BC | 09/21/18 | 2.1 | 5 | P | -$1,053.25 | -$459.50 | |
| 08/27/18 | SC | 09/21/18 | 1.85 | 5 | P | $897.00 | $437.50 | |
| Profit of | $437.50 |
