Option Investor
Updates

POSITION CORRECTION

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In last night's (Thursday's 2/3) column, I made an error in the number of contracts on one of my "hypothetical" positions. The new March SPX position should have read as follows:

March CPTI Position #2 -- SPX Iron Condor - 1189.89
Sell 15 March SPX 1120 puts
Buy 15 March SPX 1110 puts
Credit of about: $.50 ($750)

Sell 15 March SPX 1240 calls
Buy 15 March SPX 1250 calls
Credit of about: $.70 ($1,050)

Total appx. credit and potential gain of $1.20 ($1,800). We've established a maximum profit range of 1120 to 1240. The maintenance is $15,000. The actual exposure is $13,200 ($15,000 less the $1,800 premium received).

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