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It's Me Again,

Now that we have the bull put spread, let's throw on a bear call spread on the SPX to complete our Iron Condor.

With the SPX at 1448.70, let's":

Sell 20 Dec. SPX 1570 calls - SXMLN
Buy 20 Dec. SPX 1580 calls - SXMLP
Credit of about $.70 ($1,400)

Maintenance for the entire Iron Condor is $20,000. Maximum profit range is 1320 to 1570. Let's hope that's enough for five weeks.

Be careful and be flexible. Good luck and trade smart!


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