SPX Iron Condor Look Back Trade

SPX – 4/24/17

Saw an opportunity on the Put side for a possible condor. I was able to get my Puts filled on 4/24, so I entered an order in on the Call side. I was fine with just a Put spread if I could not get a Condor going. This is a common way I enter into a condor instead of placing an actual condor order.

I like to wait for a sharp move down to fill my Puts as low as possible then try to get the call side if I can get the premium I want.

When I entered the trade I had a potential profit of $350.00 if I held until expiration. However I normally place a GTC close order after I enter a condor and wait for it to be filled. On 5/9/17, just 15 days later, I hit my profit target of $180.00. My risk on this one was $2,150.00 which gave me a return of 8.37% over that 15 day period.

Date

Sym

Exp.

Strike

Price

Contracts

Type

Cost

Balance

04/24/17

SPX

BTO

JUN17

2125

-$4.50

1

Put

-$450.00

-$450.00

04/24/17

SPX

STO

JUN17

2150

$6.50

1

Put

$650.00

$200.00

04/25/17

SPX

STO

JUN17

2475

$3.70

1

Call

$370.00

$570.00

04/25/17

SPX

BTO

JUN17

2500

-$2.20

1

Call

-$220.00

$350.00

05/09/17

SPX

BTC

JUN17

2150

-$2.15

1

Put

-$215.00

$135.00

05/09/17

SPX

STC

JUN17

2125

$1.65

1

Put

$165.00

$300.00

05/09/17

SPX

STC

JUN17

2500

$1.05

1

Call

$105.00

$405.00

05/09/17

SPX

BTC

JUN17

2475

-$2.25

1

Call

-$215.00

$180.00

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