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QUICK NOTE

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QUICKIE NOTEMorning Gang,

It was brought to my attention that I mistakenly put 20 as the number of contracts for the NDX quickie calls purchase in last night's Quickie ideas. It should be only 10 contracts.

August Quickie #2 - NDX Iron Condor - 1880.09
Sell 10 NDX August 1775 puts - NDYTO
Buy 10 NDX August 1750 puts - NDYTO
Credit of about $1.00 ($1,000)

Sell 10 NDX August 1975 calls - NDYHT
Buy 10 NDX August 2000 calls - NDXHT
Credit of about $.85 ($850)

Total net credit of about $1.85 ($1,850). Maximum profit range is 1775 to 1975. The maintenance is $25,000. Note that the NDX has 25-point spreads. That adds another element of risk. 25-point spreads are more difficult to deal with if/when a trade goes bad.

Be careful and have a great day!

Mike


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