Look Back Trade.
SPX – 08/28/18 – Iron Condor
Once the above trade closed I immediately started looking for my next Condor in SPX. Once again I started with on side of the trade only. This time because SPX was spiking up I was able to get into the Call side of the trade first.
On 8/28 with SPX at $2900.35 I got my Call spread of $3030/$3040 filled for $.60.
It took me two days to get into the Put side of the trade. I had to adjust my strikes up a few times and lower my credit but I finally got the trade filled. Did not get the fills I wanted but I still feel pretty good about the position.
On 8/30 with SPX at $2901.50 I got my Put spread of $2705/$2695 filled for $.50.
If I held to close that would be about a 11.7% return on my risk. However, I set a GTC Order to keep about one half of my initial credit.
In the end my GTC hit on 9/17 and I ended this trade with a profit of $203.95 or 5.7% on a trade that lasted 20 days. This was a pretty simple SPX Iron Condor, I wish they all ended this way.